HBAR retreated 2.2% in Thursday’s session as technical selling overwhelmed new ETF speculation. The token decisively broke below the $0.1380 support on volume that peaked 47% above the daily average of 35.5 million tokens.
The collapse accelerated around 09:00 GMT when 52.21 million tokens changed hands. Bears drove prices to session lows near $0.1367 before momentum stalled.
Recent price action shows that HBAR is testing critical support levels at $0.1354. The token briefly pierced this floor of 2.37 million volume before returning to current levels around $0.1361. Technical indicators point to oversold conditions, yet bearish momentum continues as traders await clearer directional signals.
The bearish technicals contrast with the fundamental developments in light of the growing interest surrounding Canary Capital Group’s HBAR ETF. Institutional product launches typically drive structural demand over longer time frames. Short-term price movements continue to be dominated by technical factors as traders weigh oversold conditions against established downward momentum.
Key Technical Levels Signal Caution for HBAR
Support/Resistance Analysis:
- Primary support holds at $0.1354 after successful defense below session lows.
- Resistance cluster forms between $0.1380-$0.1391 from broken support levels.
- Immediate consolidation floor established at $0.1357 support zone.
Volume analysis:
- Crash volume of 52.21 million confirms technical failure with 47% increase above average.
- A late-session drop in volume suggests selling exhaustion near current levels.
- Recent hourly periods show data gaps indicating potential reporting issues.
Chart Patterns:
- Established downtrend shows successive lower highs throughout the session.
- Range bound trade occurs between $0.1354-$0.1380 limits.
- Oversold rejection potential develops from $0.1354 low test.
Risk/reward assessment:
- The resistance target is at $0.1380 for any technical recovery attempt.
- Support failure below $0.1354 opens deeper retracement scenarios.
- Current positioning above $0.1357 offers defensive access to contrarian plays.
Disclaimer: Parts 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.
