Hedera HBAR Tests Key $0.23 Support Amid 3% Slide as Selling Pressure Intensifies

Hedera Hashgraph's HBAR token experienced a sharp 3% decline during a volatile 23-hour trading session, dropping from $0.24 to $0.23 as institutional selling overwhelmed buying interest. The token traded within a tight $0.01 range, with resistance firmly established at the $0.24 level.

Final-hour volumes surged to 85.82 million HBAR as sellers dominated market activity, briefly pushing prices to session lows before a modest recovery. Approximately 3.8 million tokens changed hands during the steepest decline between 13:45 and 14:06 UTC, testing but ultimately holding the crucial $0.23 support level.

Market analysts note the 4% spread between session high and low reflects growing volatility across altcoin markets. While downside risks remain present, HBAR's ability to close NEAR $0.23 suggests temporary stabilization following the aggressive sell-off, potentially setting up for a bounce play if broader market sentiment improves.