Hedera dropped significantly through vital support levels during Sunday’s trading session, falling 5.8% from $0.1202 to $0.1127 as technical selling pressure outpaced early buying enthusiasm.
The cryptocurrency formed a distinct bearish structure after failing to sustain gains above $0.1218, with price movements largely driven by profit-taking near resistance points.
Volume trends illustrated the capital movements throughout the session. Trading surged to 69.18 million tokens on Dec. 14 at 20:00 UTC, showing an 86% increase over the 24-hour average of 32.8 million tokens, as HBAR approached critical resistance at $0.1194.
This rejection sparked a wave of selling that pushed prices below established support levels, with subsequent sessions indicating a decrease in volume that pointed to reduced institutional involvement.
With institutional activity contributing to both the initial drop and late-session rebound, technical levels at $0.1194 resistance emerged as the key battleground for HBAR’s short-term trajectory.
Barring a brief spike during October’s liquidation event, HBAR is currently trading at its lowest level since November 2024.
Key Technical Levels Signal Mixed Outlook for HBAR
Support/Resistance: Key resistance remains at $0.1194 following the significant volume rejection, with new support established at $0.1121 after a late-session reversal. Further support is present at $0.11.
Volume Analysis: A peak volume of 69.18 million tokens confirmed the resistance level’s strength, while a 750% volume increase at session’s end indicated renewed institutional interest following a period of reduced participation.
Chart Patterns: The descending trendline from the $0.1218 high was breached, yet the price remains within the previously established consolidation range of $0.1129 to $0.1193 formed during the session.
Targets & Risk/Reward: A breakout above the $0.1194 resistance would target the previous high near $0.1218, presenting upside potential, while failing to hold the $0.1121 support may lead to a retest of the $0.11 level.
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