HNT Technical Analysis: Trapped Trend Within Wedge Hints Breakout

HNT coin price forms a falling wedge pattern in the daily chart as the downtrend continues within a shorter range. Will bulls outgrow the bearish pattern? Key technical points: HNT coin price reverses from the support trendline The stochastic RSI shows a potential bullish crossover. The 24-hour trading volume in the HNT is $34 Million, marking a 12% rise. Past Performance of HNT HNT prices fell from the rejection faced near the confluence of the resistance trendline and $25. The downfall breaks below $22 to find support at the descending trendline of the falling wedge pattern. The demand reverses the price action resulting in a 5% growth last 48 hours with a potential morning star pattern. Source-Tradingview HNT Technical Analysis The HNT price may shortly reach the resistance trendline of the falling wedge pattern that will account for an extra 6% rise. However, the breakout potential increases as the bearish pattern bottle up. The crucial EMAs keep a falling trend that has resulted in the recent death cross and the rise in bearish attention. Moreover, the falling 100-day EMA might shortly give a negative crossover with the 200-day EMA to achieve a bearish alignment. RSI Indicator: The RSI slope gradually rises from the nearly oversold zone after days of consolidation below the 50% mark. Moreover, the RSI slope shows a bullish divergence in the last two dips at the descending trendline. Stochastic RSI Indicator: The K and D l...