HBAR Crashes Over 11% as Institutional Selling Triggers Technical Breakdown
HBAR initially plunged 5.9% as institutional selling at the $0.1500 support triggered a technical breakdown, driving trading volume 71% above the 20-day average. The token formed a double bottom at $0.144 but faced new resistance at $0.1512. In a late-session rebound, volume collapsed to 3 million, suggesting smart-money accumulation around $0.145.
However, the bearish trend intensified on Nov.21 when sellers unloaded 250.3M HBAR at 07:00 GMT. The surge in volume—98% above the 24-hour average—broke the $0.1350 support, turning it into a $0.1400 resistance. HBAR now trades within a descending channel, repeatedly testing the $0.1277–$0.1281 floor, with $0.1250 as the next downside target if broken. Traders will watch resistance at $0.1350 and $0.1400 for potential retracements.
Bearish
HBAR’s breakdown from key support levels and the consecutive volume surges indicate sustained selling pressure. In the short term, the 11.5% crash into the $0.1277–$0.1281 zone suggests further downside risk toward $0.1250 if the floor fails. The formation of a descending channel and the conversion of former support into resistance at $0.1350 and $0.1400 reinforce bearish momentum. Over the long term, smart-money accumulation around interim lows may cushion declines, but absent a decisive break above resistance levels, HBAR’s outlook remains negative. Traders should remain cautious as any relief rally could be capped by established technical barriers.