HBAR Pulls Back Amid Late-Session Selling Pressure
Hedera’s HBAR reversed early gains on Sept. 16 as institutional selling intensified toward the close.
After reaching an intraday high of $0.2385, HBAR declined to $0.235 between 13:15 and 14:14 UTC, a 1.05% drop. The pullback followed a 23-hour stretch of steady gains, during which the token rose from $0.23 to $0.24.
Trading activity surged in the final hour, particularly between 13:45 and 13:51 UTC, with volumes exceeding 5.6 million — nearly double the session average — suggesting institutional distribution. HBAR breached support at $0.237, $0.236, and $0.235, dampening momentum into the close.
Despite the late reversal, HBAR maintained overall resilience across the 23-hour period, advancing roughly 1% and trading in a $0.231–$0.239 range. The token’s inability to hold higher levels under concentrated selling underscores the fragility of recent bullish sentiment.
Technical Snapshot
- Resistance: $0.24, where price reversed on elevated volume (72.03 million during the 13:00 hour).
- Support: $0.23, defended multiple times during the session.
- Volume Trends: Sharp increase in late-session selling, highlighting institutional participation.
- Market Insight: HBAR shows sustained bullish interest overall, but concentrated sell pressure signals caution for near-term momentum.
