4 days ago
HBAR saw crisp selling unit connected Oct. 3, with momentum intensifying successful the last hr of trading. After concisely reaching $0.224, the token fell to $0.222, breaching cardinal enactment and ending the league down 0.9%.
The steepest driblet came betwixt 13:50 and 14:00, erstwhile volumes spiked supra 3 million, signaling organization organisation and panic-driven selling. Repeated failures to reclaim $0.224 permission HBAR susceptible to further downside toward $0.220.
Across the broader 23-hour play from October 2 to 3, HBAR dropped 3.6% from $0.23 to $0.22 connected surging measurement of 51.3 million, underscoring dense organization information successful the selloff.
Despite near-term weakness, attraction remains connected a imaginable SEC determination successful November connected spot crypto ETFs. With backing from governing assembly members similar Google and IBM, Hedera could payment from regulatory support adjacent arsenic its technicals constituent to ongoing pressure.
Technical Metrics Indicate Ongoing Weakness
- HBAR formed a chiseled downward trajectory pursuing its highest astatine $0.23 connected 2 October 19:00, with absorption processing astatine the $0.23 threshold wherever prices repeatedly reversed little during aggregate trading sessions.
- Essential enactment developed astatine $0.23 astir midnight connected 3 October, followed by an further enactment country adjacent $0.22, though some thresholds demonstrated vulnerability nether continuous selling momentum.
- Trading measurement characteristics revealed elevated enactment passim the archetypal diminution and subsequently during the 13:00 league connected 3 October with 51.3 cardinal successful volume, indicating organization engagement successful the bearish movement.
- Technical deterioration intensified during the last hr arsenic HBAR struggled to support betterment efforts supra $0.22 absorption threshold, validating the breach of indispensable enactment thresholds.
- Substantial measurement surges exceeding 3 cardinal and 2.5 cardinal during the 13:50-14:00 model coincided with aggravated selling activity, demonstrating organization organisation and fear-driven selling.
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