Hedera (HBAR) plunged 10% on December 1, benefiting from a broader market slowdown, as it now sits at a key support level at $0.1308.
The outage occurred during the daily candle opening at 00:00 UTC, also timed at the same time as the opening of Bitcoin futures trading on the CME.
HBAR has now confirmed a multi-period downtrend following a massive volume spike at 241.5 million tokens, 338% above the 24-hour average.
This confirms institutional selling and establishes current support at $0.1307. HBAR is underperforming the broader crypto market by 1.35%, indicating a rotation toward digital assets with stronger fundamentals.
Technical Consolidation vs Breakdown Risk: What Traders Should Watch For
Recent data from 60 Minutes shows HBAR trading between $0.1306 and $0.1325, consolidating around $0.1307 on lighter volume. This stabilization suggests potential accumulation near previous support, although broader technicals remain facing breakout failure and market underperformance.
HBAR is holding above the $0.1307 floor established during the breakdown, with intermittent volume spikes above 3 million tokens indicating selective buying interest.
However, the inability to sustain gains above $0.1315 despite high activity calls into question near-term dynamics, particularly if institutional flows favor alternatives with stronger setups.
Consolidation of signals from key technical levels for HBAR
Support/Resistance: Main support lies at $0.1307 after a breakdown; The resistance group between $0.1350 and $0.1315 needs to be reclaimed for bullish continuation.
Volume analysis: The peak of 241.5 million confirms institutional sales; Current reduced activity suggests consolidation with selective accumulation near support.
Chart templates: Descending trendline breakdown completed; the formation of a trading range between $0.1306 and $0.1325 indicates a potential strengthening of the base.
Targets and risk/reward: Upside capped at $0.1350 resistance without catalysts; downside risk was contained within support near $0.1306 with institutional interest present.
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.
