HBAR Declines 2.46% Following Key Support Level Breakdown
HBAR experienced significant selling pressure on August 19, dropping from $0.241 to $0.238 within an hour. An initial rise to $0.243 was reversed as heavy selling pushed the token below key support levels. A volume spike of 5.38 million at 13:32 confirmed the breakdown, leading to a close near session lows.
From August 18 at 15:00 to August 19 at 14:00, HBAR declined by 2.46%, moving from $0.244 to $0.238. The trading range was volatile, fluctuating between $0.249 and $0.237 with over 87 million in volume.
Broader market conditions worsened as the U.S. Producer Price Index rose to 3.3%, surpassing Federal Reserve expectations, contributing to $460 million in liquidations across digital assets.
Despite recent fluctuations, HBAR's enterprise-grade infrastructure and corporate partnerships are noted as potential drivers for long-term adoption.
Key Technical Analysis Points
- HBAR fell 2.46% from $0.244 to $0.238 in the last 24 hours, with a trading range of $0.01 (4.81%).
- The asset peaked at $0.25 on August 18 before facing resistance and declining.
- Critical support at $0.24 was breached on August 19, confirmed by high-volume selling.
- The inability to reclaim this support indicates potential further decline towards $0.24.
- A notable drop occurred during the final hour from $0.241 to $0.238, marked by volatility and a brief spike to $0.241 at 13:30.
