HBAR exhibited notable resilience in the 24-hour period between Oct. 7 and Oct. 8, climbing roughly 2% from session lows near $0.22 to settle around the same level. The token traded within a tight range, repeatedly testing support and resistance at $0.22.

Despite a steep decline in trading volume—from 138.43 million to 19.74 million tokens—HBAR maintained a steady consolidation pattern, hinting at reduced short-term participation but a stable accumulation phase.

Momentum built decisively during the final hour of trading, when HBAR broke out of its compressed formation between 13:12 and 14:11 UTC on October 8. After briefly retreating to an intraday low of $0.22, the cryptocurrency reversed sharply, breaching resistance levels and printing new session highs above $0.22.

The technical breakout coincided with broader market optimism surrounding Hedera’s ecosystem. Institutional enthusiasm continues to grow as Canary Capital nears completion of its spot HBAR ETF filing—proposed under the ticker “HBR” with a 0.95% management fee—though regulatory progress has been temporarily delayed by the ongoing U.S. government shutdown that has slowed SEC operations.

Technical Indicators

• HBAR maintained trading activity within a constrained $0.01 bandwidth throughout the 24-hour session, fluctuating between $0.22 and $0.22.
• Repeated examinations of support foundations around $0.22 and resistance barriers near $0.22 defined crucial technical parameters.
• Decisive rejection from $0.22 at 01:00 succeeded by retracement to $0.22 validated resistance positioning.
• Trading volume contracted substantially from 138.43 million to 19.74 million tokens during initial phases, indicating reduced momentum.
• Enhanced volume surpassing 4.3 million tokens throughout the 14:02 interval indicated institutional engagement.
• Decisive reversal from session minimum of $0.22 at 13:45 validated the conclusion of consolidation dynamics.

Disclaimer: 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.