HBAR Declines 4% Following ETF Debut as Initial Euphoria Fades
HBAR experienced a 4% decline, settling at $0.1925, after an initial surge following the launch of the first U.S.-listed HBAR ETF on Nasdaq. The token's price initially rose by 25% upon the announcement but soon faced profit-taking pressure. Despite a 19% increase in trading volume, which indicated institutional interest, bearish technical signals and a failure to maintain key support levels overshadowed this positive milestone. The ETF, managed by Canary Capital and trading under the ticker HBR, recorded around $8 million in its first-day volume. Market dynamics reveal a controlled selling atmosphere across digital assets, emphasizing a disconnect between institutional achievements and short-term price action. Analysts suggest potential further downside momentum, with key resistance levels established and significant bearish trends in play.
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