HBAR demonstrated a solid technical performance during the recent 23-hour trading period, rising from $0.21 to $0.22 while displaying a trading range of $0.012, translating to 5.7% volatility.
Market movements were marked by a robust consolidation at $0.209 on significant volume before buyers decisively pushed the token above the $0.221 resistance at 08:00 UTC.
This breakout, supported by over 125 million tokens traded, reached a new high close to $0.222, which then established new support around the $0.22 mark. The final hour of trading witnessed another spike, with a high-volume leap from $0.220 to $0.222, highlighting sustained bullish momentum.
The increase comes amid a resurgence of institutional interest, with HBAR appreciating about 4% in the last 24 hours. Hedera’s standing has been strengthened through notable partnerships, including collaborations with SWIFT, Citi, and Germany’s Bundesbank on interoperability frameworks. Additionally, Wyoming’s decision to utilize HBAR for its Frontier Stablecoin initiative has further enhanced its credibility, positioning the network at the forefront of state-level blockchain adoption.
From a technical standpoint, the cryptocurrency operates within a clearly defined range, with support anchored at $0.21 and a resistance level at $0.23. Momentum oscillators, which recently pulled back from oversold conditions, indicate that consolidation may pave the way for continued upward pressure.
Recent trading activity evidenced strong volume confirmation at critical support and resistance levels, indicating that market players are ready to uphold the present uptrend.
Technical Indicators Signal Sustained Strength
- Support level consolidated at $0.209 with substantial volume confirmation of 102.98 million during the 17:00 session.
- Decisive penetration above $0.221 resistance at 08:00 with exceptional volume of 125.71 million units.
- Upward trajectory suggests persistent buying pressure and potential continuation towards the $0.223 Fibonacci extension level.
- Volume acceleration during the 60-minute period with explosive volume of 3.19 million at the 14:04 breakout.
- Sustained buying pressure and volume confirmation exceeding 2.25 million during the 14:05-14:06 period validates bullish continuation.
- Potential for further advancement towards the $0.225 Fibonacci extension level predicated upon current momentum characteristics.
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.
