Hedera’s HBAR token faced a turbulent 24 hours, plunging 5% from $0.24 to $0.23, as traders unloaded positions with fervor. The most significant drop occurred early Wednesday when over 277 million tokens changed hands between 06:00 and 09:00 UTC, breaking through the $0.235 support level and briefly touching lows near $0.226. Although buyers attempted to stabilize the token at these levels, efforts to reclaim the $0.235–$0.241 range were met with staunch resistance.
Market Volatility Amid Regulatory Shifts
The crypto world is no stranger to volatility, but the recent chaos surrounding HBAR is noteworthy. As the pressure mounted, a one-hour drop from $0.229 to $0.226 was marked by intense selling. Trading activity surged at 13:30 and again shortly after 14:00 UTC, pushing the token to a low of $0.2245 before a modest recovery. This rebound, however, hit a ceiling at $0.227–$0.229, leaving HBAR teetering just above a new support zone at $0.225.
This turmoil coincides with a significant regulatory development in the United States. The Commodity Futures Trading Commission (CFTC) recently issued fresh guidance, granting U.S. traders access to offshore crypto markets through its Foreign Board of Trade advisory. Some analysts believe this move could unlock new liquidity streams for digital assets, including mid-cap tokens like HBAR, just as institutional investors are increasingly eyeing undervalued sectors of decentralized finance. For a broader context on market movements, see our recent coverage of how Crypto Markets Lost $200 Billion as Bitcoin’s Price Tumbled.
Yet, the technical landscape for HBAR remains precarious. The token is currently holding above the key $0.226 support area but encounters formidable resistance during any rally attempts. With prices hovering around $0.23, the big question on traders’ minds is whether the CFTC’s regulatory shift can overshadow the immediate bearish sentiment and ignite renewed interest in HBAR.
Technical Indicators and Future Prospects
Diving deeper into the technicals, the volume spike to 277.89 million during the peak of the selling frenzy underscores the robust resistance around the $0.235 mark. Meanwhile, the support levels between $0.226 and $0.228 have acted as a lifeline, providing much-needed stability amid the chaos.
However, resistance points remain formidable between $0.235 and $0.241, where previous rally efforts have been systematically thwarted. The make-or-break support zone at $0.2245 to $0.225 was formed during the sell-off, indicating a battleground for potential consolidation as trading volume thins out during recovery attempts.
Industry insiders are watching closely. “The CFTC’s guidance could open the floodgates for liquidity, but HBAR’s technical hurdles can’t be ignored,” says crypto analyst Jaden Carter. “It’s a classic tug-of-war between regulatory optimism and market skepticism.” For insights into economic factors influencing crypto markets, refer to our analysis of 3 US Economic Signals Crypto Traders Must Watch This Week.
As with any market, the path forward is fraught with uncertainties. Can the potential influx of institutional capital, spurred by regulatory clarity, bolster HBAR’s price action? Or will the bearish forces continue to dominate, keeping the token trapped in its current range? Only time will tell.
This period of volatility serves as a reminder of the ever-shifting landscape of cryptocurrency markets, where fortunes can change in the blink of an eye. As August draws to a close, all eyes will be on HBAR to see if it can navigate these choppy waters and emerge stronger on the other side.
Source
This article is based on: HBAR Faces Heavy Selling as Traders Test Key Support Levels
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
