Hedera’s long-awaited debut on the NYSE via the Canary Capital Hedera ETF (Ticker: HBR) marked a major milestone for the network, positioning it alongside Bitcoin and Ethereum as one of the few cryptocurrencies with a regulated spot ETF in the US.
Related Reading: Dogecoin Whales Quietly Hoard Over 320 Million Coins – What’s Next?
The listing initially sparked optimism, causing HBAR to soar more than 25% to $0.2191, while trading volume jumped 328% to $1.12 billion. However, the momentum proved short-lived. In 24 hours, HBAR has fallen almost 6%, retreating below $0.20.
Analysts attribute the decline to profit-taking and broader market caution as technical indicators gave mixed signals. Despite this drop, market watchers say institutional participation remains strong, driven by the ETF’s potential to unlock new liquidity flows through regulated exposure.
HBAR's price trends to the upside on the daily chart. Source: HBARUSD on Tradingview
Hedera (HBAR) Analysts Divide as “Death Cross” Looms
Data of TradingView shows that while HBAR broke through the key resistance at $0.206 earlier this week, it struggled to maintain momentum.
Traders now see support between $0.194 and $0.200 and resistance between $0.210 and $0.219. A decisive break above $0.21 could reignite bullish sentiment, but failure to hold current levels may lead to a correction towards $0.183.
Some analysts warn that a possible “death cross,” in which the 50-day moving average crosses below the 200-day moving average, could confirm current weakness.
Historically, these formations have preceded deeper pullbacks. But others argue that the bearish pattern could already be priced in, as the MACD and Aroon indicators suggest renewed bullish momentum.
Technical analyst ZAYK Charts highlighted that the current HBAR formation reflects a bullish breakout setup seen in early 2025, projecting a potential 50-60% rise if buying pressure returns.
The narrative of institutional adoption remains intact
Even as prices correct, institutional confidence in Hedera appears to be increasing. The multi-asset of the New York Stock Exchange ETF launchwhich also included Solana (SOL) and Litecoin (LTC) products, reflects growing regulatory clarity for alternative blockchains.
ETF strategist Eric Balchunas noted that the HBR ETF’s first-day volume reached $8 million, a promising start for an asset that is neither Bitcoin nor Ethereum. Additionally, 12 additional ETF filings are pending from issuers including Grayscale, ProShares and T. Rowe Price, showing broader market interest.
Related Reading: Is Bitcoin Ready for a New Race Beyond $125,000? Nasdaq record recalls 2021 BTC pattern
While short-term volatility remains, analysts maintain that the listing of the HBAR ETF marks a pivotal moment for Hedera’s long-term narrative, expanding institutional access and laying the groundwork for a potential recovery once macroeconomic conditions stabilize.
ChatGPT cover image, HBARUSD chart from Tradingview
