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HBAR’s price chart resembled a rollercoaster in the last 24 hours ending November 7th, as it whipsawed within a narrow range. After starting at $0.1672, HBAR took a slight dip, settling at $0.1634, marking a modest 2.3% pullback. The token’s performance suggests a tug-of-war between bulls and bears.
Friday at 5 PM UTC: a feeding frenzy. Suddenly, 108.8 million tokens changed hands, blowing past the previous 24-hour average by a staggering 46%. The market didn’t just move, it roared.
HBAR bleeds red. Friday’s price tumble mirrors a market-wide massacre, as panicked investors dump holdings, sending altcoins spiraling to depths unseen in months.
Hedera’s HBAR has surrendered all gains since its July surge, a chilling sign the bulls have retreated and winter has returned.
Friday saw traders cashing in gains near $0.164, but then, silence. Four minutes of zero volume screamed market indecision at that exact price. Is this the birth of a new resistance level? It sits right at the edge of today’s trading battlefield and throws a wrench into predictions of further price drops.
HBAR/USD (TradingView)
Key Technical Levels Signal Mixed Outlook for HBAR
Support/Resistance:
- Primary support establishes at $0.1595-$0.1610 zone during decline phase
- Key resistance identified at $0.1662 level where recovery attempt fails
- New resistance emerges at $0.164 following late-session breakout
Volume Analysis:
- Peak institutional activity at 108.8M tokens (46% above 24-hour SMA)
- Late-session acceleration to 3.5M during breakout attempt
- Volume deceleration in closing hours suggests consolidation potential
Chart Patterns:
- Range-bound consolidation with 5.6% daily volatility
- Failed breakout at $0.1662 resistance level
- Late-session reversal negates bearish consolidation pattern
Targets & Risk/Reward:
- Immediate resistance at $0.164 following profit-taking
- Upside target toward $0.1672 daily open if resistance breaks
- Downside risk to $0.1595 support if current level fails to hold
Thanks for reading HBAR Edges Lower 23% to $0164 Amid Bearish Outlook
