Hedera’s native token, HBAR, has demonstrated notable bullish momentum in the last 24 hours, recording a 3% increase despite the backdrop of moderate market turbulence. From September 2 at 15:00 to September 3 at 14:00, HBAR advanced from $0.22, closing near its session highs, and successfully trading within a 5% range of its lows during this period. These movements indicate strong buying support, highlighting the token’s resilience amid ongoing market fluctuations.
The trading dynamics during this interval showcased robust activity, with trading volume escalating to 69.68 million, significantly surpassing the 24-hour average of 37.42 million. This surge in trading volume highlights not only an increase in retail interest but also a potential institutional accumulation of HBAR, evidenced by sharp spikes in trading activity, including a notable single spike of 4.87 million.
On a shorter time frame, HBAR experienced significant intraday volatility. The token’s price soared from $0.22 to session highs in a one-hour window between 13:29 and 14:28 on September 3, demonstrating classic breakout patterns characterized by ascending lows and sustained momentum. Traders are now focusing on whether HBAR can maintain its bullish trajectory into the next trading period, given that support levels consistently held above $0.22.
Technical indicators also reflect the growing strength of HBAR. Solid support was formed at $0.21 during the opening sessions, underpinned by substantial trading volume. Repeated challenges to critical resistance at $0.22 during the overnight hours indicated robust demand, potentially pointing to a forthcoming breakout.
The market structure showcased a textbook accumulation formation with an ascending low configuration, reinforcing the notion of persistent buying momentum. Volume spikes at 20:00 and 21:00 on September 2 further validated this sentiment, distinguishing between genuine buying interest and speculative activity.
As HBAR continues to display classic breakout dynamics characterized by strong purchasing pressure during upward movements, market participants will be keenly observing how the asset performs in the upcoming trading sessions. The attention on critical resistance levels and ongoing trading volume will be crucial factors determining its near-term trajectory.
