HBAR Price Rises Despite SEC Delaying Canary HBAR ETF Approval Yet Again

Hedera (HBAR) price is showing resilience even as the U.S. Securities and Exchange Commission (SEC) delayed its decision on Canary Capital’s proposed HBAR ETF to November 8. 

Despite recent bearish pressure, the altcoin managed to climb 4% as investor anticipation fueled buying interest.

Hedera Has The Investors’ Support

On the 12-hour chart, the Chaikin Money Flow (CMF) highlights a sharp uptick, signaling strong capital inflows into Hedera. This trend indicates that investors remain confident in HBAR’s potential, largely ignoring regulatory uncertainty surrounding the delayed ETF approval.

Investor conviction appears to be bolstering HBAR’s stability. Sustained inflows during uncertain times suggest that holders believe in the asset’s long-term growth potential. This positive sentiment could help maintain price strength, ensuring the token does not collapse under external market or regulatory pressures.

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The Moving Average Convergence Divergence (MACD) is flashing encouraging signs, showing its first bullish crossover in more than six weeks. This technical signal underlines renewed optimism for Hedera and suggests an emerging upward trend backed by investor demand.

While the broader crypto market has remained cautiously bullish in recent sessions, HBAR stands out as it builds momentum independently of general sentiment. Support from dedicated holders continues to play a crucial role, helping the token sustain gains even in the face of delayed regulatory decisions.

HBAR Price Aims At Rallying

At the time of writing, HBAR trades at $0.227, up 3.5% over the last 24 hours. The altcoin is currently testing resistance at $0.230, having rebounded from a solid support base at $0.219.

If bullish momentum continues, HBAR could break past $0.230, opening the door for a rise toward $0.245 in the near term. Sustained buying pressure would be critical in validating this move and strengthening investor sentiment further.

On the downside, if momentum fades and sentiment shifts, a failure to breach $0.230 could lead to a retracement. In such a scenario, HBAR price might slip back toward $0.219 or even test lower support levels at $0.213, invalidating the bullish outlook.