HBAR recovered after a volatile 24-hour session, briefly dipping to a tested support level near $0.21 before bouncing back toward $0.22. Traders saw a trading bandwidth of roughly $0.013 — about a 6% intraday range — as liquidation flows spiked then subsided.
The token’s decline early in the session coincided with a surge in liquidation volumes that topped 79 million, amplifying downward pressure. Once the $0.21 zone held, selling momentum faded and HBAR staged a measured recovery, closing the period near the prior resistance level of $0.22. Volume profiles suggest the rebound came with lighter buying activity, which points to a recovery that may need follow-through to confirm a sustained trend change.
From a technical perspective, the short-term structure looks constructive as long as $0.21 remains support. The drop and subsequent rebound are notable because they show liquidation-driven weakness exhausting itself at a clear level — a common precursor to renewed upside if demand returns. That said, the muted volume on the bounce warns that a renewed push higher will likely require increased participation or a catalysts-driven spike in buying.
Why it matters: Hedera’s focus on enterprise use cases and payment infrastructure has drawn investor attention amid a broader market shift toward utility-focused chains. Projects like Kaspa and Remittix were also cited as beneficiaries of payments and scalability narratives, suggesting HBAR could attract interest as real-world adoption stories continue to unfold.
Risk note: Cryptocurrency markets remain volatile. Technical supports can fail and liquidation-driven moves often reverse quickly; this analysis is informational and not investment advice.
Source: CoinDesk. Read the original coverage for full details.