HBAR extended its advance on Tuesday, gaining 1.31% to $0.1725 as trading volume climbed 38% above the 30-day average. The move followed broader crypto market dynamics, supported by steady institutional flows. Despite the lack of fundamental catalysts, high activity indicates renewed trader interest in the Hedera Network token.
The price action reflects a period of consolidation, with HBAR forming higher lows while repeatedly testing resistance levels. Its 0.41% outperformance of the broader crypto market remained within normal correlation ranges, suggesting a sentiment-driven move rather than project-specific developments.
Traders are closely watching the $0.1742 resistance level as HBAR trades in a tight range of $0.1701 to $0.1739. The 38% increase in volume highlights active position construction, which often precedes a breakout attempt. However, the current trend suggests tactical repositioning rather than large-scale accumulation, with the $0.17 area emerging as a key psychological support zone for potential bullish momentum.
HBAR Technical Analysis Summary
- Support and resistance
- Main support at $0.1692.
- Key resistance at $0.1742.
- Volume-weighted support zone established at $0.1601 during an earlier decline.
- Volume analysis
- The increase in volume to 223.2 million at $0.1601 provides a solid technical basis.
- The consolidation at the end of the session on a lighter volume suggests a position management phase.
- Chart templates
- The formation of an ascending triangle with multiple higher lows confirms a bullish undertone.
- The pattern targets $0.18 in the event of a successful resistance breakout.
- Targets and risks
- A break above $0.1742 opens the way to the $0.18 target.
- A failure below support at $0.1692 tests the critical volume cluster at $0.1601.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
