HBAR Experiences Pullback After Rally Driven by Profit-Taking

HBAR Pulls Back After Strong Early Gains Amid Institutional Selling

Hedera’s HBAR retreated on Sept. 16 as late-session selling pressure trimmed earlier gains. The token fell from an intraday high of $0.2385 to $0.235 between 13:15 and 14:14 UTC, a decline of 1.05%, following a steady climb from $0.23 to $0.24 over the prior 23 hours.

The downward move was accompanied by a surge in trading activity, particularly between 13:45 and 13:51 UTC, when volumes spiked past 5.6 million — nearly double the session average — suggesting institutional distribution. HBAR broke key support levels at $0.237, $0.236, and $0.235, leaving momentum weakened heading into the close.

Despite the late pullback, HBAR’s broader performance over the 23-hour period showed resilience, maintaining roughly 1% gains while fluctuating in a $0.231–$0.239 range. The token’s struggle to hold higher levels underscores the sensitivity of recent bullish sentiment to concentrated selling.

Technical Overview

• Resistance: $0.24, where HBAR repeatedly reversed on elevated volume (72.03 million during 13:00 UTC).
• Support: $0.23, successfully defended multiple times during the session.
• Volume Dynamics: Late-session spike highlights institutional activity.
• Market Insight: While underlying demand remains, near-term momentum is fragile, making HBAR vulnerable to additional sell-offs.