HBAR continues to trade within a descending channel, maintaining a bearish trend as it hovers around $0.107. A break below this level could signal further declines towards lower liquidity zones. Despite this, Canary Capital's HBAR ETF has reported steady accumulation, with daily disclosures showing an increase of approximately 8 million HBAR in late December, bringing the fund's holdings to about 473 million tokens. Technical analysis indicates that HBAR's price is constrained by resistance between $0.117 and $0.126, with repeated rejections suggesting persistent overhead supply. The price is currently supported by a demand zone between $0.104 and $0.106, but a decisive break below $0.107 could confirm continued bearish momentum. Meanwhile, the ETF's accumulation reflects growing institutional interest, although it has not yet translated into upward price movement.