• Canary Capital ETF increases HBAR holdings to 413 million tokens, boosting institutional confidence.
• HBAR faces major Fibonacci resistance while maintaining strong $0.14 support.
• RSI near 38.6 indicates weak momentum, but buyers could step in if key support is maintained.

Hedera (HBAR) is trading within a bearish-to-neutral pattern following an extended phase of volatility, currently hovering at $0.1460 after posting a modest 0.85% gain in the past 24 hours.

The crypto analyst, Mark, noted that Canary Capital’s HBR Spot Hedera ETF has increased its HBAR holding from 409,000,000 to 413,316,979, indicating an institutional buildup in HBAR on a consistent note. Hedera’s total supply is fixed at 50 billion, with the ETF possessing close to 0.83% of this total.

Source: X

As more HBAR is locked into long-term institutional products, the amount available on exchanges gradually shrinks. Analysts warn that such tightening liquidity often leads to a supply shock if demand continues to rise. Should this trend persist, upward pressure on HBAR’s price may become hard to ignore.

Also Read: Hedera (HBAR) Bullish Surge: Analysts Predict a Massive Jump to $0.504!

Hedera (HBAR) Struggles Under Major Fibonacci Resistance

Technically, Hedera is holding below major Fibonacci levels traced from the swing low to the swing high. Price is below the levels of 0.382, 0.5, and 0.618, indicating constant bearish pressure, with dwindling bullish conviction. Overall market action represents an extended period in which markets have consolidated, with stiff resistance above, maintaining prices consistently close to the lower boundary.

Source: TradingView

The RSI is positioned close to 38.6, indicating a lack of momentum, not yet oversold. It is likely that there are still more seller-initiated forces in the market, although there could be some buy-initiated action if it tests $0.126 once again. A break below could lead to deep Fibonacci levels, while in-range levels could fuel a genuine turnaround on the upside.

Hedera (HBAR) Resilience Signals Potential Breakout

Moreover, the crypto analyst, Crypto Pulse, highlighted that HBAR is still one of the top picks on the watchlist, given the shift in market dynamics towards real utility, a sentiment being adopted with rapid speed across the entire cryptocurrency market. It’s no small observation to note that HBAR’s long-term support level of $0.14 has grabbed many eyes, with each downward test being rejected.

Source: X

History has indicated that utility-driven assets are able to skyrocket quickly once momentum begins; investors are already lining up for what’s next. Traders are refilling their bags and looking to execute on platforms such as Toobit to get ready for what could be HBAR’s next big move. It’s now only a matter of whether or not things happen quickly enough to tap into what’s developing.

Also Read: HBAR Faces Intense Pullback, Eyeing Strong $0.12–$0.14 Recovery Zone