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Cryptoknowmics 2022-09-28 09:37:08

HNT Technical Analysis: Power Struggle At Broken Trendline Intensifies

The HNT Technical Analysis displays a bullish struggle to push the prices above the broken support trendline, which is now a bearish opposition. The HNT price action displays a declining trend challenging a broken trendline in the daily chart for a trend reversal. Moreover, the higher low formation reflects a slight increase in the underlying bullishness that may shortly achieve trend control upon trendline breakout. So, should you consider buying Helium at lower levels? Key Points: The Helium price action teases a trend reversal opportunity. The rising trend in the RSI reflects growth in underlying bullishness. The intraday trading volume in Helium is $29.52 million. Source – TradingView HNT Technical Analysis As mentioned in our previous analysis, the HNT price jump remained just a retest of the broken trendline. However, a trend reversal possibility has arisen due to the lack of bearish follow-through. The multiple bullish attempts to break above the broken support trendline are now acting as a bearish opposition. Also, the lower price rejection in several daily candles and increased volume support to the bullish candle increase bullish trend anticipation. Moreover, the higher low formation in the declining trend forms a symmetrical triangle pattern in the daily chart. If the buying pressure grows, the HNT price action will give a bullish breakout resulting in a jump to the $6.25 mark if it exceeds the 50-day EMA. Pessimist...

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