- HBAR dropped 4.3%, breaking key support levels during Asian trading hours.
- Trading volume surged 71% above average, indicating strong institutional selling.
- The token hit a low near $0.1688 before a late-session recovery began.
- HBAR reclaimed resistance at $0.1726 but faced a ceiling at $0.1745.
- Price action suggests consolidation in a range between $0.1688 and $0.1745 amid cautious trading.
HBAR declined by 4.3% on Monday, falling from $0.18 to about $0.17 as heavy selling during Asian trading hours broke through critical support levels. Price action showed a bearish pattern with lower highs and lows, consolidating in a narrow range.
Trading volume spiked by 71% over its daily average, with 67 million tokens traded around 04:00 GMT as the price dropped below the $0.172 support area. The high-volume decline pointed to possible institutional involvement, pushing the price down briefly to $0.1688 before selling pressure eased.
Volume then sharply decreased to 3.4 million tokens, indicating the strong selloff had calmed. Despite this, the overall bearish trend remained. In the final hour, however, HBAR rose 1.2% to $0.1745 after breaking above $0.1726, signaling a short-term recovery supported by a sudden surge of 3.5 million tokens traded in minutes.
The later rebound challenged earlier losses but faced resistance near the $0.1745 level, which acted as a psychological barrier limiting further gains. This left the market uncertain whether the rise marks the start of a trend reversal or just a temporary pause.
Key technical points include breaking the important $0.172 support level in the morning, establishing a temporary floor near $0.1688, and surpassing resistance at $0.1726 during the late recovery attempt. Volume trends confirmed institutional selling early on and strong but limited buying interest later.
Overall, HBAR is expected to trade within the $0.1688 to $0.1745 range until volume and momentum provide clearer signals. The token’s price structure remains bearish over the 24-hour period despite the late session’s gains.
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