Hedera Hits Year-Low After High-Volume Resistance Rejection
Hedera (HBAR) fell 5.8% on Sunday, sliding from $0.1202 to $0.1127 as technical selling outweighed early buying. The cryptocurrency failed to hold gains above $0.1218, forming a bearish structure led by profit-taking near key resistance levels.
Trading volume surged to 69.18 million tokens at 20:00 UTC on Dec. 14, an 86% increase over the 24-hour average of 32.8 million, as HBAR tested resistance at $0.1194. The rejection sparked heavy selling that drove prices through support levels, while subsequent lower volumes indicated reduced institutional participation.
A late-session recovery hinted at a potential reversal, with $0.1194 emerging as a pivotal near-term level. Outside of a brief October spike, HBAR now trades at its lowest point since November 2024.
Technical Summary
- Support/Resistance: Resistance at $0.1194; short-term support at $0.1121; deeper support near $0.11.
- Volume: High-volume rejection confirmed resistance; a 750% surge at session close showed renewed institutional interest.
- Chart Patterns: Descending trendline from $0.1218 broken, though price remains in $0.1129–$0.1193 consolidation.
- Outlook: Breakout above $0.1194 targets $0.1218; a drop below $0.1121 risks retesting $0.11.
HBAR’s near-term direction will be shaped by institutional flows and reactions at critical technical levels.
