HBAR Edges Lower 2.3% to $0.164 Amid Bearish Outlook

Hedera's native token, HBAR, experienced a 2.3% decline over a 24-hour period, trading between $0.1672 and $0.1634, reflecting bearish sentiment in the wider market. This price action has resulted in HBAR retracing the entire uptrend seen since July, suggesting the recent bullish phase is over. Key technical analysis indicates that natural profit-taking occurred near $0.164, establishing a new resistance zone at this level, which aligns with the upper boundary of the day's trading range. Primary support is identified at $0.1595-$0.1610, while a failed recovery attempt was noted at the $0.1662 resistance level. Significant market activity included a volume surge to 108.8 million tokens, 46% above the 24-hour simple moving average, during a peak institutional activity period.

(Source：CoinDesk)