HBAR fell 2.6% in the past 24 hours, sliding from $0.1736 to $0.1691 as sellers maintained control in a largely technically driven session. The move opened in a range of $0.0101 – about 5.9% of the trade value – without any major major catalyst. Market participants continue to react to chart signals, with key levels guiding short-term sentiment.
Trading volume advanced as HBAR tested the $0.1688 support level, spiking 32% above the daily average to 63.6 million tokens. That burst of activity preceded a sharp rebound, indicating renewed institutional buying interest near critical price floors. Resistance around $0.1770 trapped earlier gains, while selling momentum gradually dissipated overnight.
On the hourly chart, the token is showing early signs of a reversal from its recent fall. HBAR started forming higher lows, moving from $0.1682 to $0.1690 before briefly testing resistance at $0.1706. A pullback to $0.1688 established a double-bottom pattern, adding weight to the recovery narrative.
Traders are now watching the $0.1720-$0.1730 zone as a near-term target. Sustained volume and buying pressure will be key to validating this breakout and overcoming the broader downtrend that has defined HBAR’s recent price structure.
Technical Analysis
Support/Resistance:
- Upside trapped at $0.1770.
- Close resistance seen at $0.1720-$0.1730.
- Strong support holding at $0.1688.
Quantitative Assessment:
- 63.6m volume spike, 32% above average during support test.
- Volume expansion continues through breakout attempts.
Chart patterns:
- Double-Bottom Formation was confirmed at $0.1688.
- The sequence of higher lows emerging.
- The downtrend structure showing early signs of failure.
Targets and Risk/Reward:
- The upside targets the $0.1720-$0.1730 zone.
- Stop-loss below $0.1682.
- Risk/Reward 3: 1 at a spread of 5.9%.
Disclaimer: Parts of this article were generated with help from AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
