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

HBAR fell by 2.5%, reaching $0.1480 after breaching a crucial support level. The decline came after a significant increase in trading volume, which surged 180% above average, indicating heightened selling pressure. On November 16, the trading activity spiked with 168.9 million tokens being traded—94% higher than the usual volume, suggesting a strong institutional sell-off. Despite the drop, there is ongoing optimism regarding Hedera's upcoming Wrapped Bitcoin integration aimed at boosting the network's DeFi capabilities. Traders noted a pattern of lower highs within a descending channel that reinforces a bearish sentiment. Key support is now at $0.1457, with resistance observed near $0.1488. Overall, market conditions display a distribution pattern as traders brace for potential further declines.

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