HBAR Edges Lower 2.3% to $0.164 Amid Bearish Outlook

Hedera's native token, HBAR, has declined by 2.3% to $0.164, displaying a volatile range-bound trading pattern. The price dropped from $0.1672 to $0.1634 over a 24-hour period, with a significant trading volume spike of 108.8 million tokens, 46% above the average. This surge in volume occurred during a failed recovery attempt at a key resistance level of $0.164. The HBAR price action reflects broader market trends, where many cryptocurrencies are experiencing downward pressures. Notably, HBAR has retraced its entire uptrend from July, signaling a possible end to a recent bullish phase. The immediate support level is established between $0.1595 and $0.1610, while resistance is indicated at $0.1662. Profit-taking and market pauses at $0.164 suggest a potential new resistance zone. Overall, HBAR continues to exhibit mixed outlooks in a consolidating market environment.

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