Hedera Gives Back Three Quarters of the IBM Rally: What Is Going On With HBAR?

Hedera handed back most of the price jump on Tuesday that had carried the coin to the top of the market a day earlier. Hedera opened the trading day at $0.12212 and slid as far as $0.10283, with the coin most recently quoted at $0.10334. That is a swing of roughly 16 percent from the day's high to the day's low. There is no fresh announcement from Hedera or from The Hashgraph Group that would account for it.

The rest of the market stood still while this happened. Bitcoin and Ether were each down less than half a percent over the same window. The pullback is therefore not a market event that caught every coin alike, but a move that concerns almost only HBAR. For you as a holder, that changes what the situation calls for: in a broad sell-off you usually sit on your hands, whereas with coin-specific profit taking it is worth looking hard at what carried the rally in the first place.

What Happened to the HBAR Price on Tuesday

Here are the numbers one by one, so you can place the order of magnitude. On September 28, HBAR opened at $0.09581, climbed to $0.13090 over the course of the day and closed at $0.12183. That was a daily gain of a good 27 percent and the coin's strongest day in months. On September 29 the move reversed: the open was $0.12212, the daily high $0.12274, the daily low $0.10283.