Hedera Hashgraph’s native token, HBAR, is once again in the spotlight, but this time not for the right reasons. As of June 18, 2025, the HBAR price has declined 3.39% in the past 24 hours, trading at $0.1498 after briefly dipping to the key Fibonacci 0.786 retracement level at $0.147.
While the network continues to gain institutional traction, including potential ETF exposure, short-term technicals suggest more pain could be ahead unless buyers step in soon.
Altcoins Underperform as Bitcoin Dominance Rises
Hedera (HBAR)‘s latest dip is part of a broader altcoin pullback. The total crypto market cap fell 1.65% over the last day, with altcoins taking the brunt of the decline.
Bitcoin dominance rose to 64%, up 0.16%, signaling a risk-off mood as investors flock to BTC and ETH amid uncertainty.
The Altcoin Season Index now sits at just 22, placing the market firmly in “Bitcoin Season.” Meanwhile, the Crypto Fear & Greed Index dropped from 53 to 48, reflecting increasing caution among retail traders and institutions.
HBAR, being a mid-cap altcoin, is particularly sensitive to such shifts. Without a strong individual catalyst, it’s currently losing out on inflows to major blue-chip assets.
$0.147 Now Critical for Hedera Bulls
From a technical standpoint, HBAR is hovering at a must-hold zone. Analyst Quantum Ascend highlighted a strong confluence for a bounce around the $0.147 level, exactly the 0.786 Fibonacci support from its last bullish swing.
However, the broader chart paints a bearish picture for the HBAR coin. The token failed to hold above the $0.151 pivot level and was rejected at the 23.6% Fibonacci resistance zone around $0.194, showing that sellers remain in control at key levels.
Technically, the Hedera price also broke below its 20-day simple moving average (SMA) at $0.163 and recently tested the 50-day SMA at $0.182. Both moving averages have now flipped into resistance zones, making upward movement even more difficult without a strong catalyst.
Momentum indicators further reinforce the bearish sentiment. The MACD histogram is currently at -0.00205, and the Relative Strength Index (RSI) sits at 31.16. While this places HBAR near oversold territory, there’s still no clear bullish divergence to suggest a reversal is imminent.
On-chain activity also reflects fading interest. The 24-hour trading volume has dropped nearly 20% to $156.4 million, indicating weakening buyer demand and a lack of conviction at current levels.
SEC ETF Review Could Be a Mid-Term Catalyst for HBAR
On June 16, the U.S. SEC officially entered the review phase for Nasdaq’s proposed Canary HBAR ETF. If approved, it would be the first ETF in the U.S. offering institutional exposure to Hedera via a commodity-based trust.
The ETF will use Coinbase and BitGo for custody and will be based on the CoinDesk Hedera USD Index. The SEC has not rejected the application, but it postponed its decision to July 21, 2025. The reason for the delay is to assess risks related to market manipulation and surveillance standards.
This delay is similar to what has happened with other altcoin ETF applications, such as those for SOL, DOGE, and DOT. While this suggests a positive outlook in the long run, the delay means HBAR does not have a short-term boost, making its price sensitive to broader market trends.
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