HBAR Faces Key Support at $0.23 After 3% Sell-Off
Hedera's token HBAR is testing support at $0.23, down over 3% on Friday. Key points include:
- Trading volume exceeded 80 million on August 21 during significant intraday sessions.
- SWIFT plans to initiate blockchain payment trials using HBAR in November 2025, involving its $150 trillion annual payments network.
- Speculation around an exchange-traded fund increased after Grayscale filed trust documents related to HBAR.
- Hashgraph technology can process over 10,000 transactions per second, enhancing confidence in its application in traditional finance.
- Growing institutional interest is noted, driven by both technical and fundamental factors.
Technical analysis
- $0.01 trading range shows 2.40% volatility between $0.24 resistance and $0.23 support levels.
- Volume spikes past 80 million indicate potential reversal points during midday trading.
- Support remains at $0.23 while resistance emerges near $0.24 price targets.