HBAR Falls 2.5% After Breaking Support Amid $460M Crypto Liquidations
HBAR slumped 2.46% to $0.238 on August 18–19, breaking its key $0.242 support level amid elevated trading volumes. The sell-off followed U.S. Producer Price Index data that rose to 3.3%, surpassing Federal Reserve forecasts and triggering $460 million in crypto liquidations. Heavy institutional selling drove intraday volatility, with HBAR trading between $0.249 and $0.237 on volume above 87 million. Technical analysis signals further downside towards the next support zone at $0.24 if HBAR fails to reclaim the breached level. Despite short-term pressures, HBAR’s enterprise-grade infrastructure and corporate partnerships support a neutral to bullish long-term outlook. Traders should watch for volume confirmation on any recovery above $0.242.
Bearish
The breach of HBAR’s key $0.242 support amid heavy institutional selling and a spike in U.S. inflation data led to a 2.46% drop, mirroring past sell-offs triggered by higher-than-expected PPI readings. The sustained high volume and failure to reclaim the support level point to further short-term downside risk. Historically, similar breaches have prompted stop-loss cascades and increased volatility. However, HBAR’s strong infrastructure partnerships temper longer-term bearish pressure, suggesting traders should remain cautious until clear signs of recovery above 0.242 emerge.