HBAR Slips 2.6% to $0.1691 as Support Test Draws Heavy Volume

HBAR experienced a significant drop of 2.6%, falling from $0.1736 to $0.1691 over 24 hours, yet it found support at $0.1688 amid a surge in trading volume, reaching 63.6 million tokens, which was a 32% increase over the daily average. This rebound suggests renewed institutional interest, as the token forms a double-bottom pattern, indicating potential for a trend reversal. Upcoming resistance levels are identified at $0.1720 to $0.1730, with traders keeping an eye on these targets. The market is largely reacting to technical signals rather than fundamental catalysts, with selling pressure easing as it approaches the resistance at $0.1770. Higher lows are being formed, favoring the outlook for HBAR as traders seek confirmation of a breakout from its recent downtrend. A stop-loss is recommended below $0.1682, presenting a risk/reward ratio of 3:1 in this 5.9% trading range.

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