HBAR Declined 2.5% to $0.1480 Breaking Key Support Amid Volume Surge

HBAR fell 2.5% from $0.1518 to $0.1480, breaking key support amid a surge in trading volume. The decline was exacerbated by a spike in trading as 168.9 million tokens exchanged hands, marking a 94% increase over average trading volume. Technical indicators showed a bearish momentum, with prices dropping further to $0.1472 as selling pressure continued. Despite positive reports regarding Hedera's Wrapped Bitcoin integration aimed at improving DeFi functionality, bearish sentiment prevailed. The primary support level is now at $0.1457, with resistance at $0.1488. Analysts note a clear descending channel characterized by lower highs, suggesting continued bearish pressure in the near term. Investors are advised to monitor these levels closely, especially after the sharp increase in trading volume during the breakdown of consolidation between $0.1460 and $0.1530.

Source 🔗