HBAR Dips to $0.170 as Technical Support Fails to Hold

HBAR Drops 1.7% as Critical Support Break Triggers Selling Pressure

Hedera’s HBAR token fell 1.7%, sliding from $0.1669 to $0.1697 after failing to surpass the $0.1716 resistance level. The token traded within a $0.0089 range, reflecting 5.2% intraday swings, as bullish momentum faltered.

Early support at $0.1633 held briefly, but the ascending trendline was broken during a sharp afternoon selloff, signaling a shift in market structure. Around 13:00 UTC, trading volume spiked to 109.46 million tokens, 87% above the 24-hour average, coinciding with rejection near resistance. A further 4.72 million-token surge at 13:39 UTC confirmed a breakdown below $0.170, marking the start of sustained selling pressure.

Technical patterns now suggest a distribution phase, likely driven by institutional selling rather than retail fluctuations. Failed rebounds, declining highs, and high-volume breakdowns support this outlook. A brief trading halt between 14:14 and 14:17 UTC added uncertainty, with post-halt activity likely determining whether bearish pressure will continue or stabilize.

Technical Snapshot

Support & Resistance:

• Resistance: $0.1716, confirmed by heavy-volume rejection.
• Trendline Support: Broken at $0.170, indicating structural weakness.
• Base Support: $0.1633, from overnight session lows.

Volume Analysis:

• Peak: 109.46M tokens, 87% above 58.5M SMA.
• Breakdown spike: 4.72M tokens, validating the trendline breach.
• Volume tapering toward session close signals weakening buying interest.

Chart Patterns:

• Ascending channel failed following rejection above $0.171.
• Previous higher lows invalidated by trendline breach.
• Declining highs and failed rebounds indicate distribution.

Targets & Risk:

• Immediate downside target: $0.1633 support.
• Short-term bearish positions: keep risk above $0.1716 resistance.
• Monitor trading after halt to confirm directional momentum.