HBAR Trades Within $0.013 Range as Support at $0.21 Holds
HBAR experienced significant volatility from Sept. 1, 09:00 to Sept. 2, 08:00, trading within a $0.013 range, with a 6% intraday swing between $0.21 and $0.22.
Key developments included:
- Initial decline from $0.22 to support at $0.21 due to liquidation volumes exceeding 79 million.
- Recovery back to near $0.22 after selling pressure decreased.
- Bullish prospects maintained as bearish momentum faded around the $0.21 level.
- Market activity suggests potential upward momentum supported by declining volumes during recovery.
- Hedera's focus on real-world applications positions it favorably among enterprise blockchains.
Other projects like Kaspa and Remittix are also gaining traction in scalability and cross-border payments. Hedera’s corporate partnerships enhance its standing as the market shifts towards utility-driven blockchain solutions.
Technical Indicators Assessment
- Trading bandwidth of $0.013, showing a 6% differential from $0.21 to $0.22.
- Volume spikes over 79 million during the initial decline.
- Critical support tested at $0.21 before recovery.
- Liquidation pressure diminished in the final hours of trading.
- Prices elevated towards resistance at $0.22.
- Volume patterns indicate exhaustion of bearish momentum.