HBAR slipped 0.3% to $0.2010 on Tuesday as sellers regained control near key resistance. The token traded within a tight $0.0124 range, fading from a session high of $0.2059 as technical selling capped upside momentum.
An increase in trading volume to 249 million tokens – 137% above the average – confirmed the heavy distribution at the level of $ 0.2055, suggesting institutional selling. Support at $0.1938 was held through repeated tests, but a series of lower highs at $0.2044, $0.2032, and $0.2017 signal continued bearish momentum.
Intraday volatility intensified between 13:33 and 13:48, with sharp swings from $0.2015 to $0.2029 amid an explosion of 20.6 million tokens. Trading stopped abruptly at 14:16, pointing to possible market disruption or data issues. The $0.2014 pivot now serves as a key level as traders watch whether the $0.1938 HBAR support can withstand continued pressure.
The price action follows Tuesday’s launch of a spot HBAR ETF on NASDAQ, which led to a significant intraday increase in HBAR.
HBAR Technical Overview
- Support / Resistance
- Key support at $0.1938 held through multiple tests.
- Strong resistance at $0.2055 remains intact after repeated rejections in high volume.
- Quantitative Assessment
- The recent 249m token volume spike marks a 137% increase on average.
- Indicates institutional selling pressure and distribution concentrated near resistance.
- Chart patterns
- The Descending Trendline confirms bearish momentum with successive lower highs at:
- Price action remains range-bound, but momentum favors sellers.
- Targets / Threats
- Downside Target: Break below $0.1938 Support could trigger further weakness.
- Potential Upside: Recovery faces resistance at $0.2017 and key supply near $0.2055.
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