Hedera Tumbles 4% as Altcoins Continue to Suffer
HBAR trades lower Thursday after breaking through multiple technical levels during an afternoon selloff that pushed the token down 4% to $0.1247.
The native token of the Hedera network posts a $0.0082 range representing 6.4% volatility as resistance at $0.1320 proves insurmountable for bulls attempting to extend gains.
Volume patterns reveal heightened institutional participation throughout the session. The surge in trading activity confirms genuine price discovery rather than low-liquidity movements characteristic of smaller altcoins.
The afternoon cascade establishes a clear lower high pattern from the initial Dec. 11 spike, creating deteriorating market structure that accelerates downward momentum through previously established support zones.
Technical levels at $0.1235 become paramount as HBAR tests critical support following rejection at $0.1320 resistance.
The stabilization pattern around $0.124-$0.125 following dramatic capitulation creates potential for mean reversion back to $0.126 resistance.
Traders remain cautious given the decisive break of higher timeframe support levels and exceptional volume during the decline that indicates conviction selling. This limits near-term upside potential despite the immediate price recovery that brings some relief to bulls.
Key technical levels signal consolidation range for HBAR
Support/Resistance:
- Immediate support established at $0.1235 following afternoon decline.
- Strong resistance confirmed at $0.1320 after multiple rejection attempts.
- New trading range between $0.123-$0.125 on 60-minute timeframes.
Volume Analysis:
- Exceptional surge to 165.9 million tokens (175% above 24-hour average) during key reversal.
- 60-minute flash crash volume peaked at 15.7 million (700% above hourly average).
- Sustained above-average activity confirming institutional participation.
Chart Patterns:
- Lower highs pattern established from Dec. 11 peak creating bearish structure.
- Flash crash and recovery formation suggesting accumulation near support.
- Deteriorating momentum through multiple support levels indicating trend shift.
Targets & Risk/Reward:
- Immediate upside target at $0.126 mean reversion level.
- Downside risk to $0.123 support floor if current consolidation fails.
- Key resistance remains $0.1285 where initial breakdown occurred.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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