HBAR experienced a surge of 5% amid heightened trading activity, trading narrowly between $0.23 and $0.24. The substantial volume of 156.1 million suggested increased institutional interest following Grayscale's application to convert its Hedera HBAR Trust into an ETF, with a decision expected from the SEC by November 12. The price movement indicates a firm support level at $0.23 and a crucial resistance at $0.24, which is currently limiting further gains. Analysts suggest a close above $0.24 could lead to a potential 25% rise towards $0.25. The recent uptick in trading volume is seen as a response to significant regulatory developments, emphasizing the importance of upcoming SEC decisions for HBAR's future institutional adoption plans. Despite the positive momentum, strong selling pressures at the resistance level continue to pose challenges for HBAR's price action over the next few weeks.

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