HBAR Drops 4.2% to $0.173 as ETF Buzz Fades on Technical Selling

Core Insights - HBAR experienced a decline of 4.2% in a 24-hour period, closing at $0.173 after reaching a peak of $0.181, indicating a bearish trend driven by technical selling [1] - The trading range for HBAR was $0.0131, reflecting a volatility of 7.4%, with significant selling activity observed at 05:00 GMT when 171.0 million tokens were traded, 84% above the 24-hour moving average [2] - Recent trading data indicates a volatile two-phase pattern, with initial selling pressure pushing prices down to $0.1721, failing to maintain support above $0.1740, which suggests a broader bearish control [3] Technical Analysis - Key support is identified at the psychological level of $0.1700, while resistance is confirmed at $0.1783 after multiple rejections [6] - Volume activity is 28.69% above the 7-day average but below the 30-day threshold, indicating routine distribution rather than institutional buying [6] - The downtrend structure is characterized by lower highs and lower lows, with the break of $0.1740 support confirming a shift towards bearish momentum [6]