Hedera (HBAR) fell 10% on December 1, following a broader market decline as it now rests on a key support level of $0.1308.
The breakdown occurred during the daily candle opening at 00:00 UTC, also timed to coincide with the opening of bitcoin futures on the CME.
HBAR has now confirmed a downtrend on multiple timeframes after a massive volume surge to 241.5 million tokens, 338% above its 24-hour average.
This confirms institutional selling and establishes current support at $0.1307. HBAR underperforms the broader crypto market by 1.35%, indicating rotation towards digital assets with stronger fundamentals.
Technical Consolidation vs Breakdown Risk: What Traders Should Watch
Recent 60-minute data shows HBAR trading between $0.1306-$0.1325, consolidating around $0.1307 on lighter volume. This stabilization suggests potential accumulation near previous support, although broader technical aspects remain challenged by the failed breakout and market underperformance.
HBAR is holding above the $0.1307 floor established during the breakdown, with intermittent volume spikes above 3 million tokens indicating selective buying interest.
But the inability to sustain gains above $0.1315 despite heightened activity calls into question near-term momentum, especially if institutional flows favor alternatives with stronger setups.
Technical key levels Signal consolidation for HBAR
Support/Resistance: Primary support is at $0.1307 after breakdown; resistance cluster between $0.1350-$0.1315 needs to be recovered for bullish continuation.
Volume analysis: 241.5 million increase confirms institutional sales; current reduced activity suggests consolidation with selective accumulation near support.
Chart Patterns: Descending trend line breakdown completed; trading range formation between $0.1306-$0.1325 indicates potential base building.
Objectives and risk/reward: Upside limited to $0.1350 resistance without catalysts; downside risk contained near $0.1306 support with institutional interest present.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
