HBAR Slides 3% as Heavy Selling Pushes Token to $0.23 Support

Hedera Hashgraph’s HBAR token faced heavy selling pressure during a volatile 23-hour stretch between August 19 at 15:00 and August 20 at 14:00, sliding 3% from $0.24 to $0.23.

The token traded within a tight $0.01 band, marking a 4% spread between its session high and low, as traders adjusted exposure across alternative digital assets. Analysts highlighted the $0.24 level as a key point of resistance, where buying momentum faded and downward pressure intensified.

The most pronounced activity came during the final hour of trading on August 20, when volumes surged to 85.82 million HBAR.

Market observers noted that the token tumbled to $0.23 before staging a modest recovery into the close, a pattern that underscored the elevated volatility. The heavy turnover during this window suggests sellers were dominant, creating short-term weakness and testing key support levels.

Between 13:45 and 14:06, more than 3.8 million tokens changed hands, coinciding with the sharpest part of the decline. Prices briefly dipped to session lows before bouncing, as buying interest re-emerged to stabilize the market.

By the final minutes, HBAR recovered enough to close near $0.23, signaling that while downside risks remain, short-term support is holding for now.

Technical Indicators Analysis

• Token declined 3% from opening price of $0.24 to closing price of $0.23 over 23-hour institutional selling period.
• Trading range of $0.01 represents 4% spread between absolute session high and low.
• Resistance level established around $0.24 where institutional buying interest diminished significantly.
• Support level emerged near $0.23 with retail buying providing technical floor.
• Elevated volume of 85.82 million during final hours confirms institutional distribution patterns.
• Volume exceeded 3.8 million during peak selling period between 13:45-14:06 indicating coordinated liquidation.
• Final 14 minutes showed technical recovery from $0.23 support level suggesting retail buying interest.

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.