HBAR Drops Nearly 6% as Institutional Selling Breaks Key Support; Double-Bottom Emerges
Hedera’s HBAR fell 5.9% on Monday as institutional selling drove the token below key support near $0.1500. The sell-off intensified around 15:00 GMT, with volume surging 71% above average, triggering stop-loss cascades and forcing momentum traders to unwind positions.
For most of the session, HBAR stayed under bearish control, consolidating between $0.1430 and $0.1470 after establishing new resistance at $0.1512. Despite persistent selling, the tight range suggested a temporary pause in downward momentum.
Late-session activity showed signs of exhaustion as volume declined and volatility narrowed. A bounce from $0.144 to $0.145 on roughly 3 million units hinted at potential accumulation at key support, though a sustained move above $0.145 is needed to confirm a reversal.
Technical Snapshot
- Support/Resistance: Double-bottom at $0.144; primary resistance $0.1512; secondary $0.1500
- Volume: Peak selling 162M units (71% above SMA), followed by 3M-unit rebound, signaling fading momentum
- Chart Pattern: Double-bottom at $0.144; consolidation $0.1430–$0.1470
- Targets: Break above $0.145 targets $0.147; failure below $0.144 targets $0.143
