“Hedera’s native token rebounds after a sharp 2.6% drop, with rising volume and a confirmed double-bottom pattern signaling potential upside toward $0.1730.”, — write: www.coindesk.com
Trading volume surged as HBAR tested its $0.1688 support level, spiking 32% above the daily average to 63.6 million tokens. That burst of activity preceded a sharp rebound, hinting at renewed institutional buying interest near critical price floors. Resistance around $0.1770 capped earlier gains, while selling momentum eased gradually into the overnight hours.
On the hourly chart, the token is showing early signs of a reversal from its recent downtrend. HBAR has started forming higher lows, moving from $0.1682 to $0.1690 before briefly testing resistance at $0.1706. A pullback to $0.1688 established a double-bottom pattern, adding weight to the recovery narrative.
Traders are now watching the $0.1720–$0.1730 zone as a near-term target. Sustained volume and buying pressure will be key to validating this breakout and overcoming the broader downtrend that has defined HBAR’s recent price structure.
HBAR/USD (TradingView)
Technical analysisSupport/Resistance:
- Upside capped at $0.1770.
- Near-term resistance seen at $0.1720–$0.1730.
- Strong support holding at $0.1688.
Volume Analysis:
- 63.6M volume spike, 32% above average during support test.
- Volume expansion continues through breakout attempts.
Chart Patterns:
- Double-bottom formation confirmed at $0.1688.
- Sequence of higher lows emerging.
- Downtrend structure showing early signs of failure.
Targets & Risk/Reward:
- Upside targets at $0.1720–$0.1730 zone.
- Stop-loss below $0.1682.
- Risk/reward 3:1 on a 5.9% range.
Disclaimer: Parts of this article were generated with the assistance from 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.
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