HBAR extended its gains on Tuesday, rising 1.31% to $0.1725 as trading volume rose 38% above its 30-day average. The move followed broader momentum in the crypto market, supported by steady institutional flows. Despite the lack of fundamental catalysts, increased activity points to renewed business interest in the Hedera network token.
The price action reflected a period of consolidation, with HBAR forming higher lows while repeatedly testing resistance levels. Its 0.41% outperformance relative to the overall crypto market remained within normal correlation ranges, suggesting sentiment-driven movement rather than project-specific developments.
Traders are keeping a close eye on the $0.1742 resistance level as HBAR trades in a tight range of $0.1701-$0.1739. The 38% increase in volume highlights active position building, which often precedes a breakout attempt. However, the current pattern suggests tactical repositioning rather than large-scale accumulation, with the $0.17 zone emerging as an important psychological support area for potential upside momentum.
HBAR Technical Analysis Summary
- Support and resistance
- Primary support at $0.1692.
- Key resistance at $0.1742.
- Volume weighted support zone established at $0.1601 during earlier declines.
- Volume analysis
- Volume increase to DKK 223.2 million. at $0.1601 provides a strong technical foundation.
- Late-session consolidation on lighter volume suggests a position management phase.
- Chart Patterns
- Ascending triangle formation with multiple higher lows confirms a bullish undertone.
- Pattern targets $0.18 on a successful resistance break.
- Objectives and risk
- Break above $0.1742 opens a path to the $0.18 target.
- Failure below $0.1692 support tests the critical $0.1601 volume cluster.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
