“Hedera’s native token shows range-bound trading with a late-session recovery attempt before hitting resistance at key technical levels.”, — write: www.coindesk.com
The most significant market activity occurred at 17:00 UTC on Friday, when volume surged to 108.8 million tokens—46% above the 24-hour simple moving average of 74.6 million.
HBAR’s lackluster price action on Friday is reflective of the broader market, with several tokens falling to multi-month lows amid a wave of sell pressure.
Hedera’s token has now retraced the entire uptrend dating back to July, signaling that the recent bullish market phase is over.
Natural profit-taking took place near $0.164 on Friday, with subsequent four minutes of zero volume suggesting a market pause at this technical level. This development represents a potential new resistance zone that aligns with the upper boundary of the day’s expanded trading range and negates the earlier bearish consolidation thesis.
HBAR/USD (TradingView)
Key Technical Levels Signal Mixed Outlook for HBARSupport/Resistance:
- Primary support establishes at $0.1595-$0.1610 zone during decline phase
- Key resistance identified at $0.1662 level where recovery attempt fails
- New resistance emerges at $0.164 following late-session breakout
Volume Analysis:
- Peak institutional activity at 108.8M tokens (46% above 24-hour SMA)
- Late-session acceleration to 3.5M during breakout attempt
- Volume deceleration in closing hours suggests consolidation potential
Chart Patterns:
- Range-bound consolidation with 5.6% daily volatility
- Failed breakout at $0.1662 resistance level
- Late-session reversal negates bearish consolidation pattern
Targets & Risk/Reward:
- Immediate resistance at $0.164 following profit-taking
- Upside target towards $0.1672 daily open if resistance breaks
- Downside risk to $0.1595 support if current level fails to hold
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy..
A deep dive into Zcash’s zero-knowledge architecture, shielded transaction growth, and its path to becoming encrypted Bitcoin at scale.
- Shielded adoption surgedwith 20–25% of circulating ZEC now held in encrypted addresses and 30% of transactions involving the shielded pool.
- The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.
- Project Tachyonled by Sean Bowe, aims to boost throughput to thousands of private transactions per second.
- Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.
View Full Report
Recent price action shows institutional accumulation signals as volume surges 78% above average during resistance test.
- XLM declined modestly from $0.2705 to $0.2702 over 24 hours in range-bound trading.
- Volume peaked at 45.09M tokens during resistance test near $0.2777 level.
- Recent 60-minute breakout pushed prices from $0.268 to $0.270 amid institutional flows.
Read full story