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 came after a surge in trading activity late on November 16, when 168.9 million tokens changed hands (a 94% jump above average), indicating strong 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 created a clear descending channel, reinforcing the bearish technical picture that 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 into 2025. For now, however, technicals remain in control, with support at $0.1457 becoming the crucial level for bulls attempting to stabilize the price action.
Consolidation Breakdown of Key Technical Levels Signals for HBAR
Support/resistance analysis:
- Primary support was established at $0.1457 following rejection of increased volume.
- Resistance remained intact near $0.1488 after strong rejection on high volume.
- Confirmed descending channel pattern with sequence of lower highs.
Volume analysis:
- The peak volume of 168.9 million tokens (94% above the 24-hour SMA) marked a key reversal point.
- The 60-minute selling pressure peaked at 6.2 million tokens during the steepest decline phase.
- Distribution pattern confirmed by a 180% volume increase during the breakdown.
Chart Patterns:
- The consolidation within the range between $0.1460 and $0.1530 was broken to the downside.
- Descending channel formation with sequential lower highs set.
- Institutional distribution pattern that broadens the consolidation breakdown.
Objectives and risk management:
- Next major support target: $0.1457 (established level based on volume).
- Risk Management Level: $0.1465 (recent, steep low).
- Upside resistance: $0.1488 (rejection zone tested on high volume).
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
