HBAR Breaks Key Support Amid Bearish Sentiment Overpowering DeFi Momentum
HBAR fell 2.5% to $0.1480 on November 16, breaking a key support level amid intensified selling in late trading. The volume surged approximately 180% above session averages during this sharp decline, with 168.9 million HBAR changing hands—a 94% increase compared to the 24-hour average—indicating heavy institutional distribution.
Price action formed a descending channel marked by lower highs, reinforcing a bearish technical setup and pushing HBAR further down to $0.1472 after the initial drop. The established range between $0.1460 and $0.1530 was broken to the downside.
Despite Hedera's Wrapped Bitcoin (WBTC) integration being cited as a potential catalyst for DeFi growth, the price trend remains bearish. Key technical levels to watch include primary support at $0.1457 and resistance at $0.1488, with a risk management level at $0.1465. The next major support target is identified at $0.1457; a break below this could imply further declines.
Overall, bearish sentiment dominates as DeFi momentum fails to counteract the technical pressures driving near-term action.
