HBAR Dips Nearly 6% as Institutional Selling Breaks Key Support; Double-Bottom Emerges
Hedera’s HBAR fell 5.9% on Monday as institutional selling pushed the token below key support levels near $0.1500. The decline accelerated around 15:00 GMT, when trading volume spiked 71% above average, triggering stop-loss cascades and forcing momentum traders to unwind positions.
Most of the session remained under bearish pressure, with HBAR consolidating between $0.1430 and $0.1470 after establishing new resistance at $0.1512. Despite heavy selling, the narrow trading range suggested a temporary pause in downside momentum.
Late in the session, selling showed signs of exhaustion as volume fell and volatility narrowed. A bounce from $0.144 to $0.145 on roughly 3 million units indicated potential accumulation at key support, though a sustained move above $0.145 is needed to confirm a reversal against the broader downtrend.
Key Technical Levels
- Support/Resistance: Double-bottom support at $0.144; primary resistance $0.1512; secondary $0.1500
- Volume: Peak selling reached 162 million units (71% above SMA), followed by a 3 million-unit bounce, indicating fading momentum
- Chart Patterns: Double-bottom at $0.144; consolidation tightened to $0.1430–$0.1470
- Targets: Break above $0.145 could reach $0.147; failure below $0.144 targets $0.143
