HBAR Slides 3% as Heavy Selling Pushes Token to $0.23 Support

Hedera Hashgraph’s HBAR token faced dense selling unit during a volatile 23-hour agelong betwixt August 19 astatine 15:00 and August 20 astatine 14:00, sliding 3% from $0.24 to $0.23.

The token traded wrong a choky $0.01 band, marking a 4% dispersed betwixt its league precocious and low, arsenic traders adjusted vulnerability crossed alternate integer assets. Analysts highlighted the $0.24 level arsenic a cardinal constituent of resistance, wherever buying momentum faded and downward unit intensified.

The astir pronounced enactment came during the last hr of trading connected August 20, erstwhile volumes surged to 85.82 cardinal HBAR.

Market observers noted that the token tumbled to $0.23 earlier staging a humble betterment into the close, a signifier that underscored the elevated volatility. The dense turnover during this model suggests sellers were dominant, creating short-term weakness and investigating cardinal enactment levels.

Between 13:45 and 14:06, much than 3.8 cardinal tokens changed hands, coinciding with the sharpest portion of the decline. Prices concisely dipped to league lows earlier bouncing, arsenic buying involvement re-emerged to stabilize the market.

By the last minutes, HBAR recovered capable to adjacent close $0.23, signaling that portion downside risks remain, short-term enactment is holding for now.

Technical Indicators Analysis

• Token declined 3% from opening terms of $0.24 to closing terms of $0.23 implicit 23-hour organization selling period.
• Trading scope of $0.01 represents 4% dispersed betwixt implicit league precocious and low.
• Resistance level established astir $0.24 wherever organization buying involvement diminished significantly.
• Support level emerged adjacent $0.23 with retail buying providing method floor.
• Elevated measurement of 85.82 cardinal during last hours confirms organization organisation patterns.
• Volume exceeded 3.8 cardinal during highest selling play betwixt 13:45-14:06 indicating coordinated liquidation.
• Final 14 minutes showed method betterment from $0.23 enactment level suggesting retail buying interest.

Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.