In the past 24 hours, HBAR's price experienced significant fluctuations, generating noticeable excitement in the market.
Intense Buying and Selling Pressure
On the evening of August 14, HBAR fell to $0.244 due to significant selling pressure. After reaching this low point around 9 PM, a recovery began. By 8 AM on August 15, the price had risen significantly to $0.259. During this period, trading volume increased to 65.56 million, well above the 24-hour average. Analysts believe that the increased trading volume indicates a rising interest in the market. A strong support level formed in the $0.248-$0.249 range, where systematic buyers were observed.
Technical Levels and Distribution Movements
A resistance level formed in the $0.255–$0.256 range. Concentrated selling at this level led to another downward price movement. The rise supported by trading volume indicated a short-term accumulation period. Meanwhile, profit-taking at the resistance line caused a slight pullback to $0.251. Experts suggest that prices may move horizontally in this narrow band in the short term, as investors focus on short-term risks and possible consolidation.
Institutional Developments and Market Dynamics
In broader market dynamics, institutional moves came to the forefront. Grayscale made potential spot ETF applications for HBAR and Cardano in Delaware. The company reported applying the same structure that it adopted for other financial products. Grayscale officials stated, “Our ETF applications aim to strengthen institutional access to crypto assets.” Additionally, the addition of HBAR and SUI to BNB Smart Chain improved the efficiency of cross-chain transactions. This change particularly facilitated retail investors’ access to HBAR and led to expectations of strengthening institutional interest in the sector.
Amid price fluctuations and institutional developments, interest in HBAR continues to grow in the market. Investors should closely monitor current developments.
