HBAR slipped 0.3% to $0.2010 on Tuesday as sellers reasserted control near key resistance. The token traded in a tight range of $0.0124, moving away from the session high of $0.2059 as technical selling limited the bullish momentum.
An increase in trading volume to 249 million tokens, or 137% above average, confirmed strong distribution at the $0.2055 level, suggesting institutional selling. Support at $0.1938 held through repeated testing, but a series of lower highs at $0.2044, $0.2032, and $0.2017 signal continued bearish momentum.
Intraday volatility intensified between 1:33 p.m. and 1:48 p.m., with sharp swings from $0.2015 to $0.2029 amid bursts of 20.6 million tokens. Trading stopped abruptly at 2:16 p.m., indicating possible market disruption or data issues. The $0.2014 pivot now serves as a key level as traders look to see if HBAR’s $0.1938 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 despite several tests.
- Strong resistance at $0.2055 remains unbroken after repeated rejections in large volume.
- Volume analysis
- The recent volume spike of 249 million tokens marks a 137% increase over the average.
- Indicates institutional selling pressure and concentrated distribution near resistance.
- Chart templates
- The descending trend line confirms the bearish momentum with successive lower highs at:
- Price movement remains limited, but the dynamic favors sellers.
- Targets / Risk-Reward
- Downside Target: A break below $0.1938 support could trigger further weakness.
- Upside Potential: The rally faces resistance at $0.2017 and a strong bid near $0.2055.
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