HBAR fell sharply on Tuesday, falling 2.5% from $0.1518 to $0.1480 after breaking below a key support level that triggered a wave of fresh selling. The move followed a spike in trading activity late on November 16, when 168.9 million tokens changed hands – a 94% jump above the average – signaling large institutional distribution.
Short-term charts show the decline accelerating, with HBAR falling another 2.2% to $0.1472 as volume surged 180% above normal. A series of lower highs carved out a clear descending channel, reinforcing the bearish technical picture traders used to time short setups.
The sell-off came despite renewed optimism around Hedera’s planned Wrapped Bitcoin integration, which aims to expand the network’s DeFi capabilities towards 2025. For now, however, technical control remains, and support at $0.1457 has become the crucial level for bulls trying to stabilize price action.
Key Technical Levels Signal Consolidation Distribution for HBAR
Support/Resistance Analysis:
- Primary support established at $0.1457 after rejection of volume increase.
- Resistance remained intact near $0.1488 after sharp rejection on increased volume.
- Descending channel pattern confirmed with lower high sequences.
Volume analysis:
- Maximum volume of 168.9 million tokens (94% above 24-hour SMA) marked a key reversal point.
- The 60-minute selling pressure peaked at 6.2 million tokens in the steepest decline phase.
- Distribution pattern confirmed by 180% volume increase during collapse.
Chart Patterns:
- Range-bound consolidation between $0.1460-$0.1530 distributed on the downside.
- Descending channel formation with sequential lower highs established.
- Institutional distribution pattern extends wider consolidation division.
Objectives and risk management:
- Next major support target: $0.1457 (established volume-based level).
- Risk management level: $0.1465 (recent steep decline low).
- Upside resistance: $0.1488 (proven rejection zone on increased volume).
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.
