HBAR fell sharply over a 24-hour period from October 16 at 3:00 p.m. to October 17 at 2:00 p.m. from $0.18 to $0.16, a decline of 11.15% in a trading range of 12.74%.
The largest sale occurred between 6:00 a.m. and 8:00 a.m. on October 17, when the price increased from $0.17 to $0.16 due to heavy volume. Resistance formed at $0.17, while repeated bounces near $0.16 established firm support despite a continued downtrend of lower highs.
During the last hour of trading, HBAR showed strong volatility around the $0.16 mark, recovering briefly after a sharp decline between 1:43 p.m. and 1:47 p.m. Trading volume surpassed 4 million during this rebound, suggesting temporary stabilization at key support levels.
The decline reflects broader market weakness, with selling pressure intensifying in digital assets. Despite near-term recovery efforts, HBAR remains under downward pressure, indicating that consolidation in the $0.16 range could precede any potential reversal.
Technical indicators reveal the fragility of the market
- HBAR decreased by 11.15% over the previous 24-hour period from October 16 at 3:00 p.m. to October 17 at 2:00 p.m.
- Robust resistance established at the $0.17 threshold accompanied by high selling pressure.
- Support levels were confirmed around the $0.16 to $0.16 range with several rebound attempts.
- The pattern of the lower peaks indicates sustained bearish momentum despite consolidation efforts.
- Volume jumped to 175.12 million during peak selling pressure between 06:00 and 08:00.
- The last hour demonstrated volatility with recovery attempts and high volume exceeding 4 million.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
