HBAR Drops to $0.170, Losing 1.7% Amid Channel Support Breakdown

HBAR Declines 1.7% as Key Support Break Sparks Selling Pressure

Hedera’s HBAR token slid 1.7%, dropping from $0.1669 to $0.1697 following a failed breakout above $0.1716. The token traded within a $0.0089 range, showing 5.2% intraday swings, as buyers struggled to sustain momentum.

Initial support near $0.1633 briefly held, but the ascending trendline broke during a sharp afternoon selloff, signaling a weakening bullish structure. The decisive shift occurred around 13:00 UTC, when trading volume surged to 109.46 million tokens, 87% above the 24-hour average. A follow-up spike of 4.72 million tokens at 13:39 UTC confirmed the breakdown below $0.170, marking the start of sustained selling pressure.

Technical indicators suggest a distribution phase rather than a short-term dip. Repeated failed rebounds, declining highs, and high-volume breakdowns point to potential institutional selling, contrasting with typical retail-driven volatility. A brief trading halt from 14:14–14:17 UTC added further uncertainty, with post-halt trading likely to determine whether bearish momentum continues or stabilizes.

Technical Snapshot

Support & Resistance:

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

Volume Analysis:

Peak volume 109.46M tokens, 87% above SMA, confirms distribution.
Breakdown spike of 4.72M tokens validates technical failure.
Volume tapering toward close suggests weakening buying interest.

Chart Patterns:

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

Targets & Risk/Reward:

Immediate downside target: $0.1633 support.
Maintain risk above $0.1716 resistance for short-term bearish positions.
Observing trading patterns post-halt is crucial for gauging directional momentum.