Hedera experienced a significant decline in its value during Sunday’s trading session, dropping 5.8% from $0.1202 to $0.1127 as technical selling pressure overrode initial buying interest. The cryptocurrency’s failure to maintain gains above the $0.1218 threshold led to the establishment of a distinct bearish structure, primarily influenced by profit-taking activities near critical resistance levels.
Trading activity surged dramatically, with volume reaching 69.18 million tokens at 20:00 UTC, an astonishing 86% rise over the 24-hour average of 32.8 million tokens. This spike coincided with HBAR’s attempt to breach crucial resistance near $0.1194. However, after being rejected, the price faced a wave of selling that pushed it through key support levels. Subsequent trading sessions indicated a decline in volume, suggesting a decrease in institutional participation.
The selling pressure, driven by institutional flows, was pivotal in both the initial downturn and the late-session recovery, solidifying the $0.1194 resistance level as a critical battleground for HBAR’s near-term trajectory. Notably, aside from a brief spike during October’s liquidation event, HBAR is now trading at its lowest point since November 2024.
From a technical perspective, critical resistance remains at $0.1194 following a high-volume rejection, while new support has been established at $0.1121 after the late-session reversal. A deeper support level is located at $0.11.
Volume analysis highlights the integrity of the resistance level, validated by the earlier peak volume of 69.18 million tokens. Additionally, the close of the session suggested a renewed interest from institutional investors, evidenced by a 750% surge in volume.
On the chart, a descending trendline originating from the $0.1218 high has been breached, although price action remains within an established consolidation range of $0.1129 to $0.1193.
Looking ahead, a breakout above the $0.1194 resistance could target a return to the previous high near $0.1218, presenting potential upside for investors. Conversely, failing to hold the $0.1121 support could lead to a retest of the $0.11 level, raising concerns about possible further declines.
