Heavy Selling Sends HBAR Down 3%, Approaches Crucial $0.23 Zone

HBAR Drops 3% as Sellers Test $0.23 Support Amid Regulatory Headwinds

Hedera Hashgraph’s native token HBAR declined 3% over a turbulent 23-hour period, sliding from $0.24 to $0.23 as sellers dominated the market amid growing regulatory pressure and weakening institutional sentiment across digital assets.

The token traded in a narrow $0.01 band between August 19 and 20, with resistance forming near $0.24—where buy-side momentum failed to sustain upward movement. The selloff accelerated during the final trading hour on August 20, with volumes spiking to 85.82 million HBAR as traders offloaded positions.

Between 13:45 and 14:06 UTC, over 3.8 million tokens were exchanged during the steepest leg of the decline, pushing HBAR to intraday lows before a modest recovery emerged. The late-session bounce allowed the token to close just above key support at $0.23, suggesting short-term stability but no clear reversal.

Analysts note that the breach of resistance and the sharp volume spike are characteristic of institutional liquidation. However, the appearance of bid interest near $0.23 signals some retail accumulation at lower levels.

Technical Summary:

Price Movement: HBAR dropped from $0.24 to $0.23 (-3%) during a 23-hour window.
Trading Range: Tight 4% spread as volatility remained compressed.
Resistance: Strong sell pressure evident at $0.24.
Support: $0.23 level held, supported by end-of-session buying.
Volume: Surged to 85.82M HBAR in final hour; 3.8M tokens exchanged in the sharpest 21-minute stretch.
Market Sentiment: Institutional selling dominates, but retail support at lower levels offers tentative stabilization.