HBAR Plunges to $0.217 Before Staging Strong Recovery Rally

HBAR traded with sharp volatility over a 23-hour window from September 23 to 24, gaining just 0.90% despite wide intraday swings. The token ranged between $0.217 and $0.225, with the critical 04:00 session on September 24 marking a steep drop to $0.217 before a strong rebound. That zone now acts as support, while $0.225 remains firm resistance.Trading volumes suggest institutional players stepped in during the selloff. Turnover hit 97.05 million at 04:00, far above the 37.89 million average, signaling accumulation at lower levels. Later, selling pressure returned, with HBAR slipping from $0.224 to $0.223 in the final hour of trading on volume nearly triple the norm.The volatility came alongside a major development: Canary Capital’s filing for a spot HBAR ETF with a 1.95% expense ratio. Analysts say the move underscores institutional recognition of Hedera’s hashgraph technology and could support long-term growth, with price targets of $0.50 by 2025–2026 and $1.60 or more by 2030.In the near term, HBAR’s performance hinges on whether support at $0.217–$0.218 holds and if institutional demand continues to offset selling pressure around $0.225.Technical Indicators Highlight Support LevelsSupport zone established at $0.217-$0.218 during session lowsResistance ceiling forms near $0.225 throughout trading periodVolume explosion to 97.05 million at 04:00 confirms institutional buying$0.007 trading range represents 3.22% volatility across 23-hour windowFinal hour volume triples to 1.79 million, signaling distribution pressureDisclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.