HBAR Falls 6% Amid Institutional Selling and High Trading Volume
Hedera Hashgraph's HBAR token faced significant institutional selling within the 24-hour trading period ending October 10. Prices fluctuated between $0.21 and $0.22, initially climbing but then reversing sharply due to broad-based selloffs.
- Trading volumes surged to 262.49 million, significantly higher than the average of 47.32 million.
- The most substantial liquidation occurred around 3:00 PM on October 10, indicating coordinated institutional selling.
- HBAR broke through several short-term support levels, stabilizing only as trading activity decreased.
- The sharp drop may reflect liquidity constraints or trading desk closures, potentially due to regulatory updates.
Technical Analysis for Corporate Investors
- Key resistance levels were identified around $0.22, where buying interest failed to sustain higher prices.
- Support was noted around $0.21 but was broken during the selloff.
- The most significant liquidation happened between 3:30-3:35 PM, with volumes spiking over 12.80 million and 16.90 million.
- Price action dropped to a session low of $0.21 before a modest recovery.
- Institutional activity ceased entirely in the final minutes, suggesting desk closures or liquidity constraints.