HBAR cryptocurrency demonstrated significant volatility between September 23-24, recording modest 0.90% gains despite substantial price swings. The digital asset fluctuated between $0.217 and $0.225, with September 24's 04:00 session witnessing a dramatic plunge to $0.217 followed by a robust recovery. This price level has now established itself as support, while $0.225 continues to serve as strong resistance.
Trading volume analysis indicates substantial institutional activity during the market downturn. Volume surged to 97.05 million at 04:00 - significantly exceeding the 37.89 million average - suggesting accumulation at lower price points. Subsequent trading saw renewed selling pressure, with HBAR declining from $0.224 to $0.223 during the final hour on nearly triple the normal volume.
This volatility coincided with major industry news: Canary Capital's filing for a spot HBAR ETF featuring a 1.95% expense ratio. Market analysts interpret this development as institutional validation of Hedera's hashgraph technology, potentially driving long-term growth with price projections reaching $0.50 by 2025-2026 and $1.60+ by 2030.
Short-term HBAR price action will depend on whether the $0.217-$0.218 support zone holds and if institutional demand can counter selling pressure near the $0.225 resistance level.
Key Technical Indicators and Market Levels
- Strong support established at $0.217-$0.218 during session lows
- Resistance consolidation observed near $0.225 throughout trading
- Volume spike to 97.05 million confirms institutional accumulation
- $0.007 trading range represents 3.22% volatility over 23 hours
- Final hour volume triples to 1.79 million, indicating distribution