Intraday Price Action
Between September 10 and 11, Hedera’s HBAR token fluctuated within a tight 5% range, moving between $0.23 and $0.24. Early in the session, the token dipped to its $0.23 support before rebounding on above-average trading activity. While daily volume typically averages 35.4 million, midday September 11 saw a surge to 156.1 million units, suggesting institutional inflows that pushed HBAR toward the $0.24 resistance level.
Resistance and Support Levels
Despite the rally, HBAR failed to break through the $0.24 ceiling, where strong selling pressure emerged. This rejection reinforced $0.23 as a firm support and $0.24 as a critical barrier for further gains. Analysts note that a close above $0.24 could pave the way for a 25% rally toward $0.25, while failure to breach resistance may keep the token range-bound between $0.21 and $0.23.
Regulatory Catalyst
The spike in trading activity coincided with regulatory developments. On September 9, Grayscale filed with the U.S. Securities and Exchange Commission (SEC) to convert its Hedera HBAR Trust into an exchange-traded fund (ETF), alongside similar filings for Bitcoin Cash and Litecoin. The SEC has set a November 12 deadline to decide on the proposed Nasdaq listing, making the coming weeks pivotal for HBAR’s institutional adoption prospects.
Technical Indicators Summary
- $0.011 trading range equals a 5% spread from $0.23 low to $0.24 high over 23 hours.
- Strong $0.23 support confirmed on 37.8 million volume reversal.
- Breakout volume peaked at 156.1 million during recovery.
- Key $0.24 resistance triggered heavy selling pressure.
- Final hour volatility on September 11 showed a $0.0072 range with sharp rejection at $0.24.
Fundfa View
HBAR’s price action reflects a balance between bullish institutional interest and technical resistance. A confirmed breakout above $0.24 could shift short-term sentiment toward $0.25, while continued rejection may keep the asset consolidating within its established range.