Hedera’s native token, HBAR, has experienced a notable surge in value, climbing 3% amidst a backdrop of market fluctuations over the past 24 hours. From September 2 at 15:00 to September 3 at 14:00, HBAR advanced from $0.22, reaching near its session highs, with the trading range stretching across 5% of the period’s low. This uptick in value comes as traders observe increased buying activity, which has provided support for the token at higher levels, demonstrating a degree of resilience in an otherwise volatile market.
Market Dynamics: A Closer Look at Volume and Volatility
The surge in HBAR’s price was underpinned by a significant increase in trading volume, which soared to 69.68 million, well above the average 24-hour volume of 37.42 million. Analysts have pointed to this volume spike as a potential indicator of a breakout, suggesting that institutional investors are taking aggressive positions above key resistance levels. Highlighting the intensity of market activity, a singular spike saw 4.87 million HBAR traded, underscoring the robust demand for the token. This pattern of volume-driven breakout potential is reminiscent of trends seen in other cryptocurrencies, such as XRP’s recent consolidation below $3.
In the shorter term, HBAR exhibited notable intraday volatility. Between 13:29 and 14:28 on September 3, the token rallied from $0.22 to a session peak before stabilizing, a movement reflective of classic breakout patterns characterized by ascending lows and sustained momentum. The support level held firm above $0.22, a critical marker for traders eyeing continued bullish momentum in the immediate future.
Technical Indicators Highlight Strength and Potential
Technical analysis reveals that HBAR established solid support around $0.21 during the initial trading sessions, bolstered by substantial volume that far exceeded the norm. This foundational support was met with repeated challenges to the $0.22 resistance level, particularly during overnight trading, where increased volume suggested a brewing breakout. The market structure displayed a textbook accumulation pattern with an ascending low configuration, a bullish sign for those keeping a close watch.
Significant volume bursts during upward movements, particularly at 20:00 and 21:00 on September 2, validated the authentic buying momentum, differentiating it from mere speculative activity. The exceptional volume spike at 13:43, reaching 4.87 million, confirmed institutional interest and positioning above the critical $0.22 resistance threshold. These dynamics underscore classic breakout behavior, with ascending lows and persistent buying pressure during upswings. Such patterns are also evident in other market analyses, as seen in Ripple’s coiling pattern signaling an explosive next step.
Looking Ahead: Can HBAR Sustain the Momentum?
As HBAR continues to navigate through these technical thresholds, the crypto community will be keenly observing whether the token can maintain its bullish stance in the upcoming trading periods. The current market setup, characterized by strong support and repeated resistance challenges, sets the stage for potential continued growth. However, questions linger about whether this upward trend can be sustained in the face of broader market uncertainties.
While the recent performance of HBAR signals promising prospects, the cryptocurrency landscape is inherently unpredictable. The coming weeks will be crucial in determining whether HBAR can break through its current resistance and establish a new upward trajectory. As always, the interplay of market forces and investor sentiment will play a pivotal role in shaping the path ahead for HBAR and its holders.
Source
This article is based on: HBAR Surges 3% as Volume Spikes Signal Breakout Potential
Further Reading
Deepen your understanding with these related articles:
- XRP Flashes Bullish Rebound Signal Led By Whales — Can Price Reclaim $3?
- Crypto Analyst: Altcoin Charts Flash Rare 2021-Style Breakout Setup
- TRUMP, XRP, and SOL Options Signal a Potential Year-End Altcoin Season: PowerTrade
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
