Hedera’s HBAR moved in a tight range between $0.23 and $0.24 on Sept. 10–11 as trading volume spiked and institutional interest accelerated following a Grayscale filing to convert its HBAR Trust into an ETF. Intraday turnover climbed from a 35.4 million daily average to a surge of 156.1 million by midday Sept. 11, suggesting larger, professional-sized orders were entering the market.
Price action shows a clear technical picture: $0.23 has held as firm support while $0.24 is acting as a choke point. Attempts to break above $0.24 encountered heavy selling pressure and produced sharp rejections, leaving HBAR range-bound for now. Traders and analysts note that a decisive close above $0.24 could free the market for a measured rally toward the next near-term target around $0.25, a potential ~25% move from the $0.24 level.
The timing of the volume spike lines up with Grayscale’s Sept. 9 SEC filing to list an HBAR ETF on Nasdaq. The SEC has set a decision deadline of Nov. 12, creating a two-month window in which regulatory clarity — or a surprise — could act as a catalyst for a breakout or a renewed sell-off. For institutional managers, an ETF listing makes exposure operationally simpler, and that demand appears to be showing up in higher-volume sessions.
What to watch next:
- Whether HBAR can close consistently above $0.24 on elevated volume — that would signal conviction and increase odds of a move toward $0.25.
- Volume sustainability: are the 156M sessions one-offs or the start of sustained institutional flows?
- Regulatory developments ahead of the Nov. 12 SEC deadline — approvals, delays, or objections will matter for sentiment.
Risk awareness: HBAR remains volatile. Technical breakouts can fail and regulatory events are binary catalysts; this is market commentary, not investment advice. Traders should size risk carefully and use stops if entering on momentum.
Source: CoinDesk. Read the original coverage for full details.