Hedera (HBAR) plunged 10% on Dec. 1, riding a broader market downturn as it now rests at a key level of support at $0.1308.
The breakdown occurred during the daily candle open at 00:00 UTC, also timed alongside the opening trade of bitcoin futures on the CME.
HBAR has now confirmed a downtrend on multiple timeframes after a massive volume spike to 241.5 million tokens, 338% above the 24 hour average.
This confirms institutional selling and establishes current support at $0.1307. HBAR underperforms the broader crypto market by 1.35%, indicating rotation toward digital assets with stronger fundamentals.
Technical consolidation vs breakdown risk: What traders should watch
Recent 60-minute data shows HBAR trading between $0.1306-$0.1325, consolidating around $0.1307 on lighter volume. This stabilization suggests potential accumulation near previous support, though broader technicals remain challenged by the failed breakout and market underperformance.
HBAR holds above the $0.1307 floor established during the breakdown, with intermittent volume spikes above 3 million tokens indicating selective buying interest.
However, inability to sustain gains above $0.1315 despite elevated activity questions near-term momentum, especially if institutional flows favor alternatives with stronger setups.
Key Technical Levels Signal Consolidation for HBAR
Support/Resistance: Primary support sits at $0.1307 following breakdown; resistance cluster between $0.1350-$0.1315 needs reclaim for bullish continuation.
Volume Analysis: 241.5 million spike confirms institutional selling; current reduced activity suggests consolidation with selective accumulation near support.
Chart Patterns: Descending trendline breakdown complete; trading range formation between $0.1306-$0.1325 indicates potential base-building.
Targets & Risk/Reward: Upside capped at $0.1350 resistance without catalysts; downside risk contained near $0.1306 support with institutional interest present.
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