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>>HBAR falls 6% in a day as its NYSE debut fails to trigger a rally, though analysts remain optimistic about its upside.

HBAR falls 6% in a day as its NYSE debut fails to trigger a rally, though analysts remain optimistic about its upside.

crypthub

1 day ago

ETF Launch and Initial Market Reaction

The Canary Capital Hedera ETF (HBR) debuted on the NYSE, placing Hedera among the few crypto assets with a regulated U.S. spot ETF. HBAR spiked over 25% to $0.2191, with trading volume jumping 328% to $1.12 billion. Within a day the rally reversed, pulling the price below $0.20 as profit‑taking and market caution set in. Analysts note that the dip does not erase the ETF’s significance for liquidity.

Technical Outlook and Price Targets

HBAR broke above $0.206 but failed to hold, finding support near $0.194‑$0.200 and resistance at $0.210‑$0.219. A clear break above $0.21 could renew bullish momentum, while a breach below current levels may trigger a slide toward $0.183. Some warn of a “death cross” of the 50‑day below the 200‑day moving average, a pattern historically linked to deeper pullbacks. Other indicators suggest a potential bullish breakout similar to early 2025, implying a 50‑60% upside if buying pressure returns.

Institutional Confidence and Future Prospects

Despite short‑term volatility, institutional interest remains strong, with the HBR ETF’s first‑day volume reaching $8 million. The launch, alongside Solana and Litecoin ETFs, signals growing regulatory clarity for alternative blockchains. Additional filings from Grayscale, ProShares, and T. Rowe Price indicate broader market appetite. Analysts view the ETF as a pivotal step that could drive Hedera’s recovery once macro conditions improve.