HBAR Trading Volume Surges Amid SEC ETF Filing

Hedera's HBAR token experienced volatility between Sept. 10 and 11, fluctuating within a 5% range of $0.23 to $0.24. Initially dipping to $0.23, trading volume increased significantly to 156.1 million by midday on Sept. 11, suggesting institutional investment interest and pushing HBAR towards the $0.24 resistance level.

The $0.23 support level proved strong, while $0.24 emerged as a critical resistance point.
A close above $0.24 could potentially lead to a 25% rally toward $0.25.
The ETF filing by Grayscale with the SEC aims to convert its Hedera HBAR Trust into an ETF, alongside Bitcoin Cash and Litecoin.
The SEC's decision on this proposal is expected by Nov. 12, impacting HBAR’s institutional adoption and market dynamics.

HBAR/USD (TradingView)

Market watchers anticipate that the SEC's decision could act as a catalyst for HBAR, influencing its ability to surpass current technical barriers and test higher levels.

Technical Indicators Summary

$0.011 trading range signifies a 5% spread from $0.23 low to $0.24 high over 23 hours.
Strong support at $0.23 confirmed by a 37.8 million volume reversal.
Breakout volume reached 156.1 million during recovery, indicating institutional flows.
Heavy selling pressure triggered at $0.24 resistance, causing a volume reversal.
Final hour volatility on September 11 showed a $0.0072 range near $0.24.
Reversal at $0.24 resistance on a 2.28 million volume spike created a rejection pattern.