Hedera’s HBAR Tests Key Support as Volume Spikes 137% Amid Heavy Selling
Hedera’s native token HBAR declined 0.3% to $0.2010 on Tuesday as sellers regained control near the $0.2055 resistance level, capping a brief rally and reinforcing a short-term bearish structure.
The token traded within a narrow $0.0124 intraday range, slipping from a session high of $0.2059 as technical selling intensified. Trading volume surged to 249 million tokens, 137% above the daily average, signaling strong institutional distribution near resistance.
Despite elevated volume, support at $0.1938 has repeatedly held, though a series of lower highs at $0.2044, $0.2032, and $0.2017 continues to confirm downward momentum.
Intraday volatility spiked between 13:33 and 13:48 GMT, with sharp swings from $0.2015 to $0.2029 amid bursts of over 20 million tokens traded. A temporary trading halt around 14:16 GMT hinted at either market disruption or data irregularities.
The $0.2014 pivot now serves as a key short-term level, with traders watching whether HBAR’s $0.1938 support can withstand further downside pressure.
The move came just hours after the Nasdaq debut of a spot HBAR ETF, which initially lifted sentiment before profit-taking set in.
Technical Overview
Support / Resistance
- Support: $0.1938 remains structurally intact after multiple retests.
- Resistance: $0.2055 continues to reject upward moves despite volume spikes.
Volume & Trend Structure
- 249M tokens traded, up 137% from average — a sign of institutional distribution.
- Successive lower highs maintain a descending trendline, confirming bearish bias.
Outlook & Targets
- Downside: A clean break below $0.1938 could open further weakness.
- Upside: A recovery above $0.2017 and $0.2055 would signal improving sentiment.
