Hedera Hashgraph’s HBAR token experienced significant selling pressure from institutional investors during a tumultuous 24-hour trading period, culminating on October 10. The token’s price fluctuated within a volatile range of $0.21 to $0.22. Despite an initial rally that pushed HBAR toward an intraday high of around $0.22, the digital asset faced a sharp reversal in the last hour of trading, as institutions initiated widespread selloffs that wiped out earlier gains.
Trading data indicated heightened activity during this selloff, with trading volumes skyrocketing to 262.49 million, nearly six times the session’s average of 47.32 million. Analysts pinpointed 3:00 PM as a critical moment when the bulk of the liquidation occurred. The sudden surge in volume alongside increasing price pressure suggested a coordinated strategy among institutional players, possibly linked to broader portfolio rebalancing efforts.
From a technical perspective, HBAR breached multiple short-term support levels during the final hour, with price movements stabilizing only as trading ceased in the closing minutes. This abrupt decline, followed by a period of calmer trading, may have been a response to temporary liquidity constraints or decisions by trading desks to limit exposure ahead of anticipated regulatory updates.
Key resistance levels were identified around the $0.22 mark, where institutional buying interest consistently failed to assert itself. Support for the token emerged around the $0.21 range but was decisively broken during the wave of selling. Notably, the most substantial institutional liquidation occurred between 3:30 and 3:35 PM, with corporate trading volumes exceeding 12.80 million and 16.90 million in rapid succession. As the price fell from $0.21 to a session low of $0.21, institutional buyers attempted a modest recovery, bringing the price back up to $0.21 by 3:44 PM.
Interestingly, trading among institutional players ceased entirely in the final four minutes of the session (3:56-3:59 PM), indicating possible trading desk closures or temporary liquidity challenges as market participants geared up for forthcoming regulatory changes.
This event underscores the ongoing volatility in the cryptocurrency market, particularly how institutional movements can significantly impact trading dynamics. The activity surrounding HBAR serves as a reminder of the delicate balance between institutional selling pressures and market liquidity, especially in the face of regulatory considerations.
