HBAR Sinks as Technical Weakness Fuels Ongoing Downtrend

HBAR Falls 3.6% on Institutional Selling, Technical Breakdown Signals Further Weakness

Hedera’s native token (HBAR) declined 3.6% over a 23-hour period, with significant institutional selling driving prices below key support ahead of a potential SEC ETF decision.

HBAR saw heightened selling pressure on October 3, with momentum intensifying in the final hour of trading. After briefly touching $0.224, the token fell to $0.222, breaching critical support and closing the session down 0.9%.

The sharpest drop occurred between 13:50 and 14:00, when trading volumes surged above 3 million, signaling institutional distribution and panic-driven selling. Repeated failures to reclaim $0.224 leave HBAR exposed to further downside toward $0.220.

Over the 23-hour window from October 2 to 3, HBAR slid from $0.23 to $0.22 on total volume of 51.3 million, underscoring the scale of institutional participation in the selloff.

Despite near-term weakness, attention remains on a potential SEC decision in November regarding spot crypto ETFs. Backing from Hedera governing council members like Google and IBM could support the token if regulatory approval is granted, even as technical indicators suggest continued pressure.

Technical Analysis Highlights Vulnerabilities

HBAR has formed a downward trajectory since peaking at $0.23 on October 2 at 19:00, with resistance developing at that level where multiple recovery attempts failed. Key support levels at $0.23 and $0.22 have been repeatedly tested but remain fragile under sustained selling.

Volume trends show elevated activity during the initial decline and again during the 13:00 session on October 3, with 51.3 million tokens traded, indicating strong institutional engagement in the bearish movement.

Technical deterioration intensified in the final hour as HBAR struggled to sustain levels above $0.22, confirming the breakdown of critical support. Volume spikes exceeding 3 million and 2.5 million between 13:50 and 14:00 corresponded with aggressive selling, highlighting institutional distribution and fear-driven market behavior.