Institutional Selling Pushes HBAR Below Key Support
Hedera Hashgraph's HBAR token declined nearly 3% to $0.21 within 24 hours as institutional investors reduced exposure to enterprise-focused cryptocurrencies. This follows resistance at $0.22 on September 29, where trading volumes exceeded 34 million tokens due to corporate profit-taking.
- Resistance at $0.22 prompted above-average trading volumes due to institutional selling.
- Initial support at $0.21 was breached due to heavy afternoon selling, peaking volumes near 55 million tokens.
- Analysts link the movement to caution among corporate treasuries amid regulatory changes in enterprise blockchain adoption.
- Notable trading activity: 5.90 million tokens exchanged at 3:10 PM and 4.51 million at 3:11 PM on September 30.
- The session ended with stabilization near $0.21, but volatility may continue as corporate strategies adjust to regulatory shifts.