HBAR Rises 3% on Surging Volume, Signaling Potential Breakout
Hedera’s native token, HBAR, showed bullish momentum over the past 24 hours, gaining 3% amid moderate market turbulence.
Between September 2 at 15:00 and September 3 at 14:00, HBAR advanced from $0.22 to near session highs, with a trading range covering 5% of the period’s low. The consistent buying support at higher levels demonstrated resilience in a volatile market.
Institutional Activity Drives Strength
Trading volumes surged to 69.68 million, significantly above the 24-hour average of 37.42 million, highlighting strong institutional accumulation. Notable bursts, including a single spike of 4.87 million, indicated aggressive positioning above key resistance levels.
Intraday price action reinforced breakout potential. Between 13:29 and 14:28 on September 3, HBAR rallied from $0.22 to a session high before stabilizing, forming ascending lows and sustained momentum—classic signs of a potential breakout.
With support holding above $0.22, market participants will watch closely to see if HBAR can maintain its bullish stance in the upcoming trading sessions.
Technical Indicators Show Continued Strength
- Support: Strong base at $0.21, backed by high trading volume.
- Resistance: Critical level at $0.22, tested repeatedly with heightened activity, suggesting a potential breakout.
- Market Structure: Accumulation pattern with ascending lows confirming steady buying pressure.
- Volume Confirmation: Surges at 20:00 and 21:00 on September 2, and an exceptional 4.87 million spike at 13:43 on September 3, validating institutional buying.
- Momentum: Price action and volume align with classic breakout patterns, indicating potential for further upside.
HBAR’s trading dynamics reflect robust institutional interest and breakout-ready patterns, suggesting that sustained momentum could support additional gains if volume remains elevated.
