Markets
What to know:
- HBAR fell 3.25% to $0.1925 despite the debut of Canary Capital’s spot HBAR ETF on Nasdaq, highlighting a disconnect between institutional milestones and short-term price action. 🤷♂️
- Trading volume jumped 19% above the 30-day average, suggesting increased institutional activity and profit-taking after an initial 25% post-announcement rally. Because nothing says “institutional” like a 19% spike. 📈
- Technical weakness dominated fundamentals, with key support breaks confirming a bearish shift and signaling potential short-term downside despite long-term adoption momentum. Fundamentals? Who needs them when you’ve got a chart? 📉
Hedera’s native token, HBAR, fell 3.25% to $0.1925 over the 24-hour period ending October 30, despite the launch of its first U.S.-listed exchange-traded fund. Because what’s a token without a little drama? 💸
The selloff followed Canary Capital’s spot HBAR ETF debut on the Nasdaq, a milestone for non-Bitcoin digital assets. A milestone! Because nothing says “progress” like a token that’s already down 4%. 🎉
The token initially rallied more than 25% after the announcement, but enthusiasm quickly faded as profit-taking set in. Enthusiasm? What enthusiasm? It was like a party where everyone left before the cake arrived. 🍰
The ETF, trading under the ticker HBR, recorded about $8 million in first-day volume, underscoring solid institutional interest despite short-term price weakness. Solid institutional interest? Or just a bunch of people checking their watches? ⏰
While the ETF marked a regulatory and institutional breakthrough for Hedera, technical factors overshadowed fundamentals. Technical factors? Oh, right, because fundamentals are just a suggestion. 🧠
Market data suggests the decline was part of a broader pattern of controlled selling across digital assets. Controlled selling? More like controlled chaos. But who’s counting? 🌀
Key Technical Levels Signal Continued Pressure for HBAR
Support/Resistance
- Critical support at $0.2040 broke during the 24-hour period. Oh no, the support broke. How dramatic. 🎭
- New resistance formed in the $0.2070-$0.2080 zone after multiple rejections. Rejections? Like a bad date. 💔
Volume Analysis
- Strong selling pressure with 261.2M tokens traded, 87% above the 24-hour average. Strong selling pressure? Or just a lot of people checking their phones. 📱
- Most significant volume activity occurred on 30 October at 04:00 as price broke key technical levels. 4 AM? That’s when the real selling happens. 🕒
Chart Patterns
- Bearish trend established with successive lower highs from the $0.2114 peak. Lower highs? Because nothing says “trend” like a downward spiral. 🌀
- Total range of $0.0203 (9.9%); price collapsed from $0.194 to $0.192 amid massive volume spikes. Collapsed? Or just taking a nap. 🛌
Targets & Risk/Reward
- 60-minute analysis indicates further downside toward $0.190. Further downside? What’s next, a trip to the moon? No, wait, that’s already been done. 🌙
- Momentum indicators show severely oversold conditions, confirming accelerated institutional selling. Oversold? Or just exhausted from all the drama. 🥵
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2025-10-30 21:37