HBAR Edges Lower 2.3% to $0.164 Amid Bearish Outlook

Hedera's native token HBAR has declined by 2.3% over the past 24 hours, falling from $0.1672 to $0.1634. This drop signifies a volatile range-bound trading pattern. Notably, trading volume surged to 108.8 million tokens at 17:00 UTC, exceeding the session average by 46%. The price action reflects broader market trends, with many cryptocurrencies approaching multi-month lows amidst selling pressure. HBAR's price retracement indicates a potential end to a bullish phase that began in July. A temporary resistance has formed at $0.164 following natural profit-taking. Technical analysis shows primary support levels between $0.1595 and $0.1610, while significant resistance is noted at $0.1662, where prior recovery attempts have stalled. The trading volatility over the day remained at 5.6%. In summary, HBAR's latest price activity reflects current market volatility and signals potential consolidation ahead.

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