HBAR fell 2.6% over the past 24 hours, falling from $0.1736 to $0.1691 as sellers maintained control in a largely technically driven session. The move unfolded over a $0.0101 range – about 5.9% of the trade – without any major fundamental catalyst. Market participants continued to respond to chart signals, with key levels driving sentiment in the short term.
Trading volume increased as HBAR tested its support level at $0.1688, rising 32% above the daily average to 63.6 million tokens. This burst of activity preceded a sharp recovery, indicating renewed institutional buying interest near critical price floors. Resistance around $0.1770 capped earlier gains, while selling momentum gradually faded into the overnight hours.
On the hourly chart, the token is showing early signs of a reversal from its recent downtrend. HBAR has started to form higher lows, moving from $0.1682 to $0.1690 before briefly testing resistance at $0.1706. A pullback to $0.1688 established a double bottom pattern, adding weight to the recovery narrative.
Traders now see the $0.1720-$0.1730 zone as a short-term target. Sustained volume and buying pressure will be key to validating this breakout and overcoming the broader downtrend that has defined HBAR’s recent price structure.
Technical analysis
Support/Resistance:
- Upside is limited to $0.1770.
- Short-term resistance seen at $0.1720-$0.1730.
- Strong support holds at $0.1688.
Volume analysis:
- 63.6M volume spike, 32% above average under test of support.
- Volume expansion continues through breakout attempts.
Chart Patterns:
- Double bottom formation confirmed at $0.1688.
- Sequence of higher lows emerging.
- Downtrend structure showing early signs of failure.
Objectives and risk/reward:
- Upside target at $0.1720–$0.1730 zone.
- Stop-loss below $0.1682.
- Risk/reward 3:1 at a range of 5.9%.
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.
