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Hedera’s native token, HBAR, experienced heightened institutional interest over the past 24 hours, trading in a tight range between $0.22 and $0.23. The strongest movement came early on October 2, when HBAR spiked from $0.22 to $0.23 on heavy volume exceeding 57 million. This surge established firm resistance at the $0.23 mark, which the token tested repeatedly throughout the day. Despite several attempts, buyers were unable to break past this ceiling, leading to consolidation just below the level.
Later in the session, volatility picked up. Selling pressure mounted, and with liquidity thinning, HBAR lost 1% in the final hour of trading. Analysts highlighted the declining trading volume into the close as a sign of potential short-term weakness, suggesting that momentum may have temporarily cooled.
Still, broader sentiment remains more favorable. Hedera executives recently joined a panel alongside SWIFT, Citigroup, and Germany’s Bundesbank, underscoring growing institutional recognition of Hedera’s enterprise-grade distributed ledger technology. Additionally, Wyoming’s Frontier Stablecoin pilot continues to showcase Hedera’s expanding role in real-world financial applications.
Regulatory developments could also serve as catalysts. The SEC is currently reviewing a potential spot HBAR ETF, which, if approved, would mark a major milestone for broader adoption. Analysts argue that despite near-term market hesitation, Hedera’s combination of strong institutional partnerships, enterprise pilots, and ETF potential could support further gains throughout October.
From a technical standpoint, resistance at $0.23 remains a critical barrier. Elevated trading volumes during the morning rally signaled renewed investor interest, but thinning liquidity toward the session’s close raised concerns about short-term price stability. The overall daily trading range of 3% reflected active price discovery, reinforcing HBAR’s position as a token to watch in the evolving crypto market.
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