HBAR, the token for Hedera Hashgraph, experienced a 3% drop during a volatile 23-hour period from August 19 to August 20, declining from $0.24 to $0.23. This decline was marked by a trading range of just $0.01, indicating significant selling pressure particularly in the last hour when trading volumes surged to approximately 85 million tokens. Analysts identified key resistance at the $0.24 level, where buying momentum faded, and noted that support held at $0.23, suggesting that despite the broader volatility, buyers were attempting to defend this level. During the peak selling period, over 3.8 million tokens were traded in a short timeframe, highlighting a coordinated liquidation among institutional investors. The late recovery towards the end of the trading session indicates some resilience in retail buying interest, helping stabilize HBAR around the $0.23 support level. However, overall market conditions remain uncertain, contributing to the current volatility.

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