Hedera HBAR Plunges 5% as Institutional Selloff Intensifies, Tests Critical $0.23 Support Level

Hedera Hashgraph's native token HBAR experienced significant turbulence over the past 24 hours, declining 5% from $0.24 to $0.23 amid a major institutional liquidation event. Trading volumes surged to triple normal levels, with over 126 million tokens exchanging hands during peak selling pressure.

The selloff accelerated dramatically between 07:00-08:00 UTC on September 15, overwhelming previous support levels. Brief recovery attempts saw corporate buyers test $0.24 resistance before retreating, with one concentrated buy order deploying 2.47 million tokens in an unsuccessful attempt to establish a price floor.

Market analysts now identify $0.23 as critical support, while the failed breakout above $0.24 confirms fresh resistance. The volatility underscores HBAR's sensitivity to institutional portfolio rebalancing, compounded by regulatory uncertainty and enterprise adoption concerns.