Hedera HashGraphs Hbar-Token was facing a strong sales pressure during a fleeting 23-hour stretch between 19 August at. 15.00 and August 20 at. 14:00 and slid 3% from $ 0.24 to $ 0.23.
Token traded within a tight $ 0.01 ribbon that marked a 4% spread between its session high and low as dealers adjusted exposure across alternative digital assets. Analysts highlighted the $ 0.24 level as a key point for resistance where the purchase of momentum faded and downward pressure intensified.
The most significant activity came during the last trade on August 20, as quantities rose to 85.82 million hbar.
Market Observers noted that the token tumbled to $ 0.23 before staging a modest improvement in the dense, a pattern that emphasized the elevated volatility. The heavy turnover under this window suggests that sellers were dominant, creating short -term weakness and testing of key support levels.
Between 13:45 and 14:06, more than 3.8 million token’s hands changed, coinciding with the sharpest part of the decline. Prices dipped briefly for session low before jumping when buying interest rates appeared to stabilize the market.
In the final minutes, HBAR came back enough to close almost $ 0.23, signaling that while there are risks withheld, short -term support now.
Technical indicator analysis
- Token fell 3% from the opening price of $ 0.24 at a closing price of $ 0.23 over 23 hours of institutional sales period.
- The trading area of $ 0.01 represents 4% spread between absolute session high and low.
- Resistance level established around $ 0.24, where institutional purchase interest is significantly reduced.
- Support level appeared near $ 0.23 with retail purchases that provided technical floor.
- Elevated volume of 85.82 million in the last hours confirms institutional distribution patterns.
- Volume exceeded 3.8 million in the tip-selling period between 13: 45-14: 06, indicating coordinated liquidation.
- The last 14 minutes showed technical recovery from $ 0.23 support level suggesting retail purchases of interest.
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