HBAR Slumps 4% as Technical Weakness Triggers Selling
Hedera’s HBAR token dropped 4.32% over the past 24 hours, falling from $0.22 to $0.21 between September 3 at 15:00 and September 4 at 14:00. Broader market weakness, profit-taking, and persistent selling pressure drove the decline, pushing traders out of risk assets.
Resistance at $0.222 capped recovery attempts, leading to a breakdown below the $0.212–$0.214 support zone. The token experienced heightened volatility, with a $0.011 trading range (4.93% swing) and peak volume of 179.34 million at 13:00, signaling a capitulation phase.
Intraday, HBAR briefly spiked to $0.216 on 42.37 million volume before profit-taking returned it to $0.213. A new trading range formed between $0.212–$0.214, with sustained volumes of 3–8 million per minute until 14:10, before stabilizing near $0.213.
Technical snapshot:
- Resistance: $0.222 held firm against recovery attempts
- Support: $0.212–$0.214 critical for near-term stability
- Volume: Peaks indicate selling exhaustion and profit-taking
- Momentum: Downtrend continues, suggesting possible further downside
Traders are now watching the $0.212–$0.214 zone for stabilization before considering long positions, as technical and macro-driven pressures continue to weigh on HBAR.
