HBAR fell sharply on Tuesday, sliding 2.5% from $0.1518 to $0.1480 after breaking below a key support level that triggered a wave of fresh selling. The move followed a spike in trading activity late on November 16, when 168.9 million tokens changed hands – a 94% jump above the average – signaling heavy institutional distribution.
Short-term charts show an acceleration, with HBAR dropping another 2.2% to $0.1472 as volume surged 180% above normal. A series of lower highs carved out a clear descending channel, reinforcing the technical picture traders used in short time setups.
The sell-off comes despite updated optimization around Hedera’s planned wrapped bitcoin integration, which aims to expand the network’s defi capabilities heading into 2025. For now, however, the technicals remain in control, and support at $0.1457 has become an important level for bulls attempting to stabilize the price.
The basic levels of technical integration levels for HBAR
Support/Resistance Assessment:
- Key support established at $0.1457 following a decline in volume.
- Resistance remained intact near $0.1488 after a sharp rejection on elevated volume.
- The descending channel pattern confirmed with a lower sequence of highs.
Quantitative Assessment:
- The peak volume of 168.9m tokens (94% above the 24-hour SMA) marked the key reversal point.
- 60-minute selling pressure that dipped to 6.2m tokens during a steep decline phase.
- The distribution pattern confirmed by the 180% volume surge during the breakdown.
Chart patterns:
- Consolidation range between $0.1460-$0.1530 broken to the downside.
- Decreasing channel formation with successively lower established highs.
- The pattern of institutional distribution that widens the wider collapse of integration.
Targets and Risk Management:
- Next key support target: $0.1457 (established level based on volume).
- Risk Management Level: $0.1465 (Recent steep rejection low).
- Reverse resistance: $ 0.1488 (proven rejection zone in high volume).
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