HBAR Climbs 3% on Heavy Volume, Indicating Potential Breakout
Hedera’s native token, HBAR, gained 3% over the past 24 hours, showing signs of bullish momentum despite moderate market volatility.
Between September 2 at 15:00 and September 3 at 14:00, HBAR moved from $0.22 to session highs, trading within a 5% range of the day’s low. Strong buying support at elevated levels highlighted the token’s resilience in a fluctuating market.
Volume Signals Institutional Accumulation
Trading volume surged to 69.68 million, well above the 24-hour average of 37.42 million, signaling robust institutional participation. Notable spikes—including a single burst of 4.87 million—highlighted aggressive positioning above key resistance.
Intraday price action reinforced the breakout potential. Between 13:29 and 14:28 on September 3, HBAR rallied from $0.22 to a session high before stabilizing, forming ascending lows and sustained momentum, classic indicators of a potential breakout.
Support held firmly above $0.22, and traders will be closely watching whether HBAR can maintain this bullish posture in upcoming sessions.
Technical Analysis Points to Strength
- Support: $0.21, reinforced by elevated volume.
- Resistance: $0.22, tested multiple times with strong trading activity.
- Market Structure: Accumulation pattern with ascending lows, indicating persistent buying.
- Volume Confirmation: Surges at 20:00 and 21:00 on September 2 and an exceptional 4.87 million spike at 13:43 on September 3 validate institutional buying.
- Momentum: Price and volume trends align with classic breakout dynamics, suggesting further upside potential.
HBAR’s combination of institutional buying, strong support, and breakout-friendly volume patterns suggests the token could extend its gains if momentum continues.
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