HBAR Edges Lower 2.3% to $0.164 Amid Bearish Outlook

HBAR, Hedera's native token, has experienced a decline of 2.3%, trading at $0.164 amid a broader bearish market sentiment. Over a 24-hour period, HBAR dipped from $0.1672 to $0.1634, demonstrating a volatile range-bound pattern. A notable spike in trading volume to 108.8 million tokens occurred in the late session as participants attempted a recovery, but this was met with resistance at critical technical levels. Profit-taking has contributed to the current price action, with a specific point of interest at the newly established resistance level of $0.164. This recent price movement reflects a trend reversal following HBAR's earlier bullish phase. The article discusses key technical indicators such as support at the $0.1595-$0.1610 range and resistance at $0.1662. Without a break above these levels, HBAR may continue to face downward pressure, suggesting traders should be cautious in the current market environment.

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