HBAR Tumbles 10% to Crucial Support on Heavy Volume
Hedera's HBAR dropped 10% to a key support level of $0.1308 amid heavy volume, suggesting institutional selling pressure.Summary
Hedera (HBAR) experienced a 10% plunge on December 1st, aligning with a broader market downturn, settling at a critical support level of $0.1308. This breakdown occurred concurrently with the opening of CME bitcoin futures and was confirmed by a massive volume spike of 241.5 million tokens, 338% above average, which technical analysts interpret as institutional selling. HBAR is currently underperforming the general crypto market, indicating a rotation toward assets with stronger fundamentals. Technically, HBAR is consolidating between $0.1306 and $0.1325 around the $0.1307 floor, showing selective accumulation, but its inability to hold above $0.1315 questions near-term momentum. Key resistance remains at $0.1350, while the downside risk is contained near $0.1306 support.
(Source：CoinDesk)