HBAR dropped 4.3% on Monday, declining from $0.1802 to $0.1725 as significant selling during Asian trading hours breached important support levels. The token’s lower highs and lows indicated a distinct bearish trend, with price action consolidating within a $0.0120 range.
Trading volume surged 71% above the daily average, with 67.16 million tokens traded at 04:00 GMT as HBAR fell below the $0.1720 support area. The high-volume movement suggested institutional involvement in the selloff, which briefly pushed prices down to $0.1688 before the momentum started to wane.
As the session continued, volume sharply decreased to just 3.42 million tokens, signaling that the intense selling pressure had diminished. However, the overall bearish market structure remained intact, leaving traders cautious about potential further declines.
In the final hour, though, HBAR executed a notable recovery, rising 1.2% to $0.1745 after overcoming short-term resistance at $0.1726. The last surge, fueled by an impressive 3.55 million tokens traded in a matter of minutes, challenged the earlier bearish sentiment—but with momentum fading near the $0.1745 level, it remains unclear whether the recovery indicates the onset of a reversal or just a fleeting respite.
Key Technical Levels Indicate Mixed Momentum for HBAR
Support/Resistance
- $0.1726 resistance surpassed during late-session recovery attempt.
- Key $0.1720 support breached in morning’s high-volume decline.
- Temporary low established around $0.1688 session low.
Volume Analysis
- Morning surge to 67.16M tokens confirmed support breach with institutional flow.
- Recovery volume of 3.55M indicates solid short-term buying interest.
- Volume exhaustion at $0.1745 limits immediate upside potential.
Chart Patterns
- Bearish structure with lower highs and lows dominated the 24-hour timeframe
- Late breakout contests downtrend but lacks sustained volume follow-through
- Price rejection at $0.1745 psychological level forms a near-term ceiling
Targets & Risk/Reward
- Immediate resistance caps advances at $0.1745 psychological barrier
- Support holds above $0.1688 temporary session low
- Range trading anticipated between $0.1688-$0.1745 until volume returns
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.
