HBAR Slides 3.6% Amid Heavy Institutional Selling, Technical Weakness Deepens

Hedera’s native token (HBAR) fell 3.6% over 23 hours, with strong institutional selling pushing prices below key support levels ahead of a potential SEC ETF decision.

HBAR faced sharp selling pressure on October 3, particularly in the final hour of trading. After briefly reaching $0.224, the token dropped to $0.222, breaching critical support and closing the session down 0.9%.

The steepest decline occurred between 13:50 and 14:00, when volumes spiked above 3 million, signaling institutional distribution and panic-driven selling. Repeated failures to reclaim $0.224 leave HBAR vulnerable to further downside toward $0.220.

Over the broader 23-hour period from October 2 to 3, HBAR dropped from $0.23 to $0.22 on surging volume of 51.3 million, highlighting heavy institutional participation in the selloff.

Despite short-term weakness, attention remains on a potential SEC decision in November regarding spot crypto ETFs. With backing from governing council members such as Google and IBM, Hedera could see upside from regulatory approval even as technicals point to ongoing pressure.

Technical Metrics Highlight Ongoing Weakness

HBAR has followed a clear downward trajectory since its $0.23 peak on October 2, 19:00, with resistance forming at $0.23, where repeated attempts to push higher failed. Key support levels emerged near $0.23 and $0.22, but both have proven vulnerable under sustained selling pressure.

Trading volume spiked during the initial decline and again in the 13:00 session on October 3, with 51.3 million tokens traded, indicating institutional activity driving the bearish trend.

Technical deterioration intensified during the final hour as HBAR struggled to recover above $0.22, confirming the breach of critical support. Volume surges exceeding 3 million and 2.5 million between 13:50 and 14:00 coincided with aggressive selling, underscoring institutional distribution and fear-driven market behavior.