Hedera Drops to Fresh Lows as Resistance Sparks Heavy Selling
Hedera (HBAR) fell 5.8% on Sunday, sliding from $0.1202 to $0.1127 as technical selling dominated early buying. The cryptocurrency failed to hold gains above $0.1218, forming a bearish pattern driven by profit-taking near key resistance.
Volume spiked to 69.18 million tokens at 20:00 UTC on Dec. 14, an 86% increase above the 24-hour average of 32.8 million, as HBAR tested resistance at $0.1194. The rejection at this level triggered a wave of selling that pushed prices below established support. Lower volumes in subsequent sessions suggested waning institutional participation.
A late-session recovery hinted at a potential reversal, highlighting $0.1194 as a critical near-term battleground. Aside from a brief October spike, HBAR now trades at its lowest level since November 2024.
Technical Snapshot
- Support/Resistance: Resistance at $0.1194, short-term support at $0.1121, with deeper support near $0.11.
- Volume: High-volume rejection confirmed resistance, while a 750% surge at session close signaled renewed institutional interest.
- Chart Patterns: Descending trendline from $0.1218 broken; price remains in a $0.1129–$0.1193 consolidation range.
- Outlook: Breakout above $0.1194 targets $0.1218; failure to hold $0.1121 risks a retest of $0.11.
HBAR’s next move will likely hinge on institutional flows and the battle around key technical levels.
