HBAR Price Is Down 40% Since Canary ETF Launch; What Went Wrong?
HBAR's price has dropped about 41% since the Canary ETF launch, reflecting a 'buy the rumor, sell the news' scenario with weak follow-through demand.Summary
Hedera's (HBAR) price has struggled significantly since the launch of the Canary HBAR ETF, declining approximately 41% from $0.200 to $0.117. The ETF initially saw strong inflows near $30 million, but this momentum quickly faded, resulting in minimal recent inflows ($875,000) and many flat trading days, suggesting early participants booked profits.
The ETF's impact was more symbolic than capital-driven, failing to unlock substantial new demand for spot HBAR. Technical indicators like the Chaikin Money Flow (CMF) are trending below zero, indicating capital outflows from larger holders, which historically precedes price weakness for HBAR.
Currently, HBAR is consolidating between $0.131 resistance and $0.113 support. A failure to hold support could lead to a drop toward $0.104 and potentially $0.096, while a decisive move above $0.131 is needed to signal a meaningful recovery.
(Source：BeInCrypto)