Hedera’s native cryptocurrency, HBAR, experienced a 1.7% decline over the latest 24-hour trading period, dropping from approximately $0.171 to $0.170. This downturn followed an unsuccessful attempt to break above a critical resistance level near $0.1716, highlighting weakening bullish momentum.
Throughout the day, HBAR traded within a volatile range of around $0.0089, reflecting intraday price swings exceeding 5%. Initial buying interest maintained a support zone at $0.1633 for a short time; however, the token soon lost its ascending trendline—a key indicator of a positive price structure—signaling a shift away from upward momentum.
The significant turning point occurred around 13:00 UTC when trading volumes surged to 109.46 million tokens, nearly 87% higher than the 24-hour average volume of 58.5 million. This surge coincided with a rejection near the resistance level, which triggered a wave of selling pressure. A subsequent spike in volume of 4.72 million tokens at 13:39 helped confirm the breakdown beneath $0.170, intensifying bearish sentiment.
Technical indicators now suggest that HBAR is entering a distribution phase rather than experiencing a brief pullback. The emergence of lower highs, failed recovery attempts, and heavy volume-driven declines point to possible institutional participation in selling. These characteristics deviate from typical retail-driven volatility patterns that often occur in crypto markets.
Adding an element of uncertainty, trading was halted for three minutes between 14:14 and 14:17 UTC. No volume was recorded during this pause, leaving market participants awaiting clarity on how activity will resume. The behavior of price and volume following this break will be essential in determining whether the recent bearish trend will continue or stabilize.
From a technical analysis perspective, the primary resistance remains firm at $0.1716, where the token faced strong rejection on heavy volume. The ascending channel support that had been guiding HBAR’s upward trajectory broke decisively below $0.170 during the afternoon selloff. Meanwhile, the $0.1633 level remains the current base support, established from the previous overnight lows.
Volume analysis corroborates these movements, with a peak volume of 109.46 million tokens confirming distribution activity. The breakdown was validated further by the 4.72 million-token surge in volume during the afternoon, signaling intensified selling pressure. Toward the end of the trading session, volume contracted, suggesting that buying interest has temporarily diminished.
The overall chart pattern reveals a failed breakout attempt above resistance, invalidation of multiple higher lows, and characteristics typical of a distribution phase. Immediate downside targets point back to the $0.1633 support base following the recent breakdown, while risk management strategies for short-term traders should consider the $0.1716 resistance level as a key threshold for potential position adjustments.
Market participants will be closely monitoring volume trends and price action once trading resumes fully after the brief halt. The next moves could provide clearer insights into whether HBAR’s current bearish bias will deepen or if a stabilization phase will emerge.
