HBAR Faces Sharp Decline as Institutional Selling Pressure Mounts

HBAR experienced heavy selling pressure on October 3, marking one of its most volatile sessions in recent weeks. After briefly climbing to $0.224, the token reversed sharply, slipping to $0.222 and closing the day down 0.9%. The decline was significant not only for the price movement but also for the surge in trading activity, signaling strong institutional participation in the selloff.

The most pronounced drop occurred between 13:50 and 14:00, when volumes spiked beyond 3 million. This surge coincided with intensified selling, suggesting a mix of institutional distribution and panic-driven exits from retail traders. Attempts to reclaim the $0.224 level repeatedly failed, leaving HBAR vulnerable to extended downside pressure, with the next key support likely at $0.220.

Over the broader 23-hour period from October 2 to 3, HBAR shed 3.6%, dropping from $0.23 to $0.22. Trading volume soared to 51.3 million during this timeframe, highlighting significant market activity and reinforcing the idea of large players unloading positions.

From a technical perspective, the cryptocurrency has been on a downward trajectory since hitting $0.23 on October 2 at 19:00. Repeated rejections at that resistance level established $0.23 as a clear ceiling. Meanwhile, support around $0.23 and later at $0.22 proved weak under sustained selling momentum. The failure to hold above $0.22 late in the session emphasized deteriorating technical strength.

Despite bearish short-term signals, the upcoming SEC decision on spot crypto ETFs in November keeps investors attentive. Hedera, with backing from major governing council members such as Google and IBM, could see renewed interest if regulatory approvals materialize. However, in the immediate term, HBAR’s chart indicates that sellers remain firmly in control, and further downside cannot be ruled out.