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

HBAR experienced a significant decline, dropping 2.5% from $0.1518 to $0.1480 as it broke a critical support level. This sell-off was characterized by a surge in trading volume, with a peak of 168.9 million tokens traded, marking a 94% increase above average volumes during this downturn. Short-term analysis indicated a continuation of bearish trends, with further declines observed as HBAR fell to $0.1472 amid a 180% volume increase. The technical analysis outlines a descending channel with a series of lower highs, confirming the bearish sentiment among traders. Despite positive developments surrounding Hedera’s Wrapped Bitcoin integration for enhanced DeFi capabilities, the market's sentiment remained overwhelmingly negative. The next support target for HBAR is identified at $0.1457, while risk management levels are pegged at $0.1465. Resistance remains near $0.1488 following a strong rejection on high volume. Overall, traders remain cautious as bearish forces dominate the market.

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