The Fall of HBAR: A Tragedy in Cryptocurrency’s Shadowy Theater

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What to know:

  • HBAR, that stubborn little token, refused once again to climb above the treacherous $0.1690-$0.1700 zone, as if haunted by some spectral force of resistance.
  • Then, like a desperate gambler, it surged-68%-to 105.45 million tokens in volume, only to be betrayed as the price plunged south of $0.1650 support, revealing that the big players-oh yes, the institutions-are quite eager to sell their illusions for a profit.
  • With $0.1650 now acting as an insidious resistance, the next pitiful hope is at $0.1620, where previous support crumbles like ancient parchment-a ghost of former stability.

Tuesday’s betrayal saw HBAR slip 1.4%, a pathetic slide from $0.1698 to $0.1675, as the bears-those relentless specters of market despair-sank their claws deeper. Attempts to reclaim the mighty $0.1700 failed miserably, pushing the price below the sacred $0.1650, which now bears the scars of defeat. Trading volume, that loudmouth siren, erupted 68% above its usual whisper, reaching 105.45 million tokens around 21:00 UTC-proof that the market eldritch forces have spoken, and they favor the bears.

Intra-day volatility, that fickle mistress, reached near 5%, with the price swinging within a narrow $0.0084 range-the fleeting illusion of stability. The rejection from the lofty $0.1690-$0.1697 zone, now a haunted place of resistance, foreshadows another descent as the bearish reversal pattern haunts traders’ dreams, whispering of weaker market sentiment and impending doom.

Without any fundamental miracles to save it, the momentum is locked in a downward spiral. The inability to break free from the grip of $0.1700 and the volume-confirmed support collapse have shifted the pendulum sharply downward. Traders, those unfortunate souls, are watching that ghostly $0.1690 level for signs of life, but if $0.1650 crumbles-oh, beware-the next stop is at that forsaken $0.1620, where support once tried to hold but now trembles in the shadow of chaos.

A brief, almost mocking, rebound to $0.1675 on whisper-thin volume suggests merely a technical flirtation, an illusion of recovery in a carnival of despair. Unless some mighty force of buying steps up, HBAR’s prospects are grim-further declines loom like an eternal winter.

Technical Warning: The Bearish Shadows Grow Longer

  • Support/Resistance:
    • The stubborn resistance: $0.1690-$0.1700, where hopes attempt to rise but are repeatedly dashed-like an unfunny joke.
    • The fallen support at $0.1650, now a resistance, mocks those who believe in salvation.
    • Next in line, the battered support at $0.1620, where the markets once absorbed institutional greed, now just echoes of past support.
  • Volume Analysis:
    • Institutional volume spike: 105.45M tokens, a 68% increase, proving support has been gutted like a haunted house.
    • The waning volume on a rebound to $0.1675 suggests only ghostly interest, not real conviction.
    • This dance of distribution, not accumulation-oh, what a tragic ballet-plays out at current price levels.
  • Chart Patterns:
    • The pattern is clear: lower highs and lower lows, a downward spiral plotted in spectral ink.
    • The failed romp above $0.1700 offers no salvation-only a sign that despair has taken root.

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2025-10-23 19:48