HBAR retreated 2.2% during Thursday's session as technical selling overwhelmed emerging ETF speculation. The token broke decisively below $0.1380 support on volume that peaked 47% above the daily average of 35.5 million tokens.

The breakdown accelerated around 09:00 GMT when 52.21 million tokens changed hands. Bears drove prices to session lows near $0.1367 before momentum stalled.

Recent price action shows HBAR testing critical $0.1354 support levels. The token briefly pierced this floor on 2.37 million volume before recovering to current levels around $0.1361. Technical indicators point to oversold conditions, yet bearish momentum persists as traders await clearer directional signals.

The bearish technicals contrast with fundamental developments in light of of growing interest around Canary Capital Group's HBAR ETF. Institutional product launches typically drive structural demand over longer timeframes. Short-term price action remains dominated by technical factors as traders weigh oversold conditions against established downtrend momentum.

Key Technical Levels Signal Caution for HBAR

Support/Resistance Analysis:

• Primary support holds at $0.1354 after successful defense during session lows.
• Resistance cluster forms between $0.1380-$0.1391 from broken support levels.
• Immediate consolidation floor established at $0.1357 support zone.

Volume Analysis:

• Breakdown volume at 52.21 million confirms technical failure with 47% spike above average.
• Late-session volume decline suggests selling exhaustion near current levels.
• Recent hourly periods show data gaps indicating potential reporting issues.

Chart Patterns:

• Established downtrend shows successive lower highs throughout session.
• Range-bound trading emerges between $0.1354-$0.1380 boundaries.
• Oversold bounce potential develops from $0.1354 low test.

Risk/Reward Assessment:

• Resistance target sits at $0.1380 for any technical recovery attempt.
• Support failure below $0.1354 opens deeper retracement scenarios.
• Current positioning above $0.1357 offers defensive entry for contrarian plays.

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.