HBAR Pulls Back After Early Gains as Institutional Selling Hits Late Session

Hedera’s HBAR retraced earlier gains on Sept. 16, with institutional selling pushing the token lower by the session’s close.

The cryptocurrency fell from $0.237 to $0.235 between 13:15 and 14:14 UTC, a 1.05% decline, after reaching an intraday high of $0.2385. This marked a reversal from the prior 23 hours, during which HBAR had steadily climbed from $0.23 to $0.24.

The late-session decline coincided with heightened trading activity, particularly between 13:45 and 13:51 UTC, when volumes surged past 5.6 million — almost double the session’s average. The pattern points to institutional distribution, as HBAR broke through successive support levels at $0.237, $0.236, and $0.235. The inability to recover above these levels left momentum weakening into the close.

Despite the selloff, HBAR showed underlying strength over the 23-hour window. The token gained roughly 1% overall, trading between $0.231 and $0.239, with strong buying earlier in the day. However, the late reversal highlights the vulnerability of recent bullish sentiment under concentrated selling pressure.

Technical Snapshot

• HBAR traded in a $0.01 range between $0.23 (support) and $0.24 (resistance), recording a 3% total fluctuation.
• Resistance at $0.24 proved decisive, as prices reversed on elevated volumes of 72.03 million during the 13:00 hour.
• Support held near $0.23, defended multiple times throughout the session.
• Volume spiked during the decline, especially between 13:45 and 13:51 UTC, exceeding 5.6 million as selling accelerated.
• Overall, the technical setup reflects sustained bullish momentum, with institutional participation evident through above-average volume during key reversals.