Altcoin News: Hedera (HBAR) falls as a technical downgrade triggers significant sell-offs, the support holds at $0.213

The recent drop in HBAR highlights strong selling pressure, indicating potential further decline if support breaks.

HBAR Price Action: Collapse Below Support

The native token of Hedera, HBAR, has sharply fallen over the last 24 hours, dropping from a peak near $0.22 to a session low of $0.21. This decline of 4.3% in a day was triggered by strong selling pressure, profit-taking, and a general risk-averse sentiment in the cryptocurrency markets.

Attempts to recover were limited by resistance around $0.222, leading to a decisive break below the support zone of $0.212-$0.214.

Trading volume spikes as bears take control

The massive sale was accompanied by intense trading activity:

179.34 million tokens changed hands during the UTC hour 13:00.

A one-minute volume spike of 42.37 million at 13:50 indicated a capitulation phase.

The price briefly bounced to $0.216, but the gains were short-lived, with profit-taking bringing HBAR back down to $0.213.

At the close of the session, HBAR stabilized in a range between $0.212 and $0.214, with volumes decreasing to an average of 3 to 8 million per minute.

Technical Outlook: Support Tested, Resistance Intact

Support: 0.212 $-0.214 $ - a critical stabilization zone that traders are watching.

Resistance: $0.222 - sellers continue to reject bullish momentum.

Dynamic: Bearish, with stop-loss cascades accelerating downward pressure.

Despite the collapse, stabilization near $0.213 suggests that buyers are defending the area. A sustainable hold above this level could form the basis for a consolidation, while a failure could risk deeper corrections.

Macro and Market Context

The decline of HBAR reflects a broader weakness in cryptocurrencies, where traders have reduced risks amid macroeconomic uncertainty. Even with the ongoing regulatory progress of Hedera, short-term technical aspects remain the main driver of price action.

Market participants are now awaiting confirmation of support before committing to long positions, according to Gate.