HBAR is trading lower on Thursday after breaking through several technical levels during an afternoon selloff that sent the token down 4% to $0.1247.
The native token of the Hedera network is showing a range of $0.0082 representing 6.4% volatility as resistance at $0.1320 proves insurmountable for bulls trying to extend their gains.
Volume patterns reveal increased institutional participation throughout the session. The increase in trading activity confirms true price discovery rather than low liquidity movements characteristic of smaller altcoins.
The afternoon cascade establishes a clear lower trend from the initial peak on December 11, creating a deterioration in market structure that accelerates downward momentum through previously established support areas.
Technical levels at $0.1235 become paramount as HBAR tests critical support following rejection at $0.1320 resistance.
The stabilization pattern around $0.124-0.125 following a dramatic capitulation creates potential for a mean reversion towards the $0.126 resistance.
Traders remain cautious given the decisive breakout of higher temporal support levels and exceptional volume during the decline that indicates conviction selling. This limits short-term upside potential despite the immediate price recovery providing some relief to the bulls.
Key technical levels signal consolidation range for HBAR
Support/Resistance:
- Immediate support established at $0.1235 after the afternoon decline.
- Strong resistance confirmed at $0.1320 after several rejection attempts.
- New trading range between $0.123 and $0.125 on 60-minute time frames.
Volume analysis:
- Exceptional increase to 165.9 million tokens (175% above 24-hour average) during key reversal.
- The volume of flash crashes in 60 minutes peaked at 15.7 million (700% above the hourly average).
- Sustained and above-average activity confirming institutional participation.
Chart templates:
- Pattern of lower highs established from the December 11 peak, creating a bearish structure.
- Flash crash and recovery formation suggesting accumulation near support.
- Deterioration of momentum through multiple support levels indicating a change in trend.
Targets and risk/reward:
- Immediate upside target at an average reversion level of $0.126.
- Downside risk to $0.123 support floor if current consolidation fails.
- Key resistance remains $0.1285 where the initial breakout occurred.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
