Hedera’s rally following the launch of Canary Capital’s spot HBAR ETF has cooled, with prices retreating as ETF approval enthusiasm wanes and traders test key support levels.
Hedera’s HBAR token fell to $0.1965, down 12% from this week’s high and 50% below its year-to-date peak, as the initial excitement over Canary Capital’s spot HBAR ETF faded. The pullback comes after last week’s surge to $0.2052 driven by the ETF’s NYSE debut following SEC approval. Institutional profit-taking and reduced demand pushed the price below the $0.2000 psychological level, approaching secondary support at $0.1950. HBAR’s decline reflects easing momentum after breaking resistance at $0.2060 and facing selling pressure near its recent highs.