HBAR Institutional Support Falters as Price Action Lags

Hedera's altcoin has been struggling to gain traction despite strong institutional support. In July, HBAR saw $3 million in net ETF inflows, its strongest monthly inflow since May, and yet it still ended the month down by 0.94%. This seems paradoxical, especially when compared to Solana, which attracted $14 million in net ETF inflows but still closed out the month down by 1.7%.

The technical analysis of HBAR suggests that it remains bearish after breaking below the key $0.07 support level. However, institutional positioning has been preventing a more severe decline in price. This could be seen as a bullish signal for HBAR, especially given that the broader market is still in a risk-off phase.

The question now is whether HBAR can capitalize on this shift and attract further momentum. The altcoin's ETF demand has turned net zero so far in August, which raises concerns about its ability to sustain itself in a bearish market. If it fails to break above the $0.07 support level, it could move closer to its post-election price range of around $0.04.