HBAR remained largely within a tight range over the past 23 hours, fluctuating between $0.23 and $0.24, reflecting a mere 2% volatility. It briefly achieved session highs at $0.24 on Sept. 16 around 18:00 UTC, before retreating and consistently finding support near $0.23. Several attempts to rebound from this level during the morning trading on Sept. 17 indicated a potential price floor, although the conviction was limited.
Market activity dwindled alongside the price movement. Trading volumes progressively decreased after an initial spike, highlighting reduced participation and implying that bullish momentum has mostly subsided. The limited trading range and low volatility amplified the sense of indecision, with buyers and sellers hesitant to pursue a breakout.
The last hour of the observed timeframe clearly illustrated market sentiment. At 13:33 UTC on Sept. 17, HBAR experienced a sharp decline from $0.24 to $0.23, coinciding with a significant volume of 2.56 million just three minutes later. Nevertheless, the coin experienced a gradual recovery, returning close to session highs, reflecting the day’s tensions between sellers and opportunistic dip buyers.
Overall, HBAR dropped 1% during the 23-hour period. While the support around $0.23 offers some degree of stability, declining trading volumes and ongoing downward pressure render the market susceptible. The abrupt sell-off followed by a recovery showcases the uncertainty that continues to influence HBAR’s prospects, with bearish sentiment prevailing but moderated by signs of technical resilience.
Technical Indicators Assessment
- Price action showed consolidation within a 2% range between the $0.23-$0.24 resistance and support levels.
- Volume decreased from 45.7 million to 4.7 million tokens, indicating weakened market participation.
- Multiple rebounds at the $0.23 support level suggest a potential price floor is being established.
- Sharp sell-off at 13:33 followed by recovery shows volatile intraday sentiment swings.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
