CHZ breaks the wedge, will HBAR and HNT follow?

Hedera Hashgraph (HBAR) is trading within a descending wedge and is above the support area of ​​480 satoshi.

Chiliz (CHZ) has broken out over a descending wedge.

Helium (HNT) is trading above the 32,000 satoshi support but is still moving along the descending resistance line.

This article only deals with BTC pairs. To learn more about USD pairs, click here.

HBAR

HBAR has fallen since hitting 836 satoshis high on May 13th. On June 14th and 22nd, it ricocheted off the horizontal support area of ​​480 Satoshi. It has been trading above this level since the beginning of March.

Technical indicators are showing some bullish signs, but not enough to confirm a bullish reversal. As the MACD is moving up, the RSI is still below 50 and the stochastic oscillator has not yet formed a bullish cross.

Daily HBAR / BTC chart | Source: TradingView

The shorter-term six-hour chart shows token trading within a descending wedge that is believed to be a bullish reversal pattern.

In addition, the short-term indicators are bullish. MACD, RSI, and the stochastic oscillator have all created significant bullish divergences. This is a sign that an outbreak is imminent.

If so, the next resistance levels will be 696 and 836 satoshis, respectively.

HBAR / BTC 6-hour chart | Source: TradingView

Highlights

• HBAR is trading above 480’s Satoshi support.
• It acts in a descending wedge

CHZ

CHZ has been trading within a descending wedge since hitting an all-time high on March 12th. On May 23, it ricocheted off the wedge’s support line and managed to break through by June 11.

On June 23, he turned back and confirmed the previous line of resistance as support.

Technical indicators are relatively optimistic. Both MACD and RSI create bullish divergence and are moving up. Likewise, the stochastic oscillator has created a bullish cross.

The fact that the MACD is crossing into positive territory and the RSI is hovering above 50 will confirm that the trend is bullish.

If so, the next resistance would be 1250 satoshis, the 0.618 fib retracement resistance.

Daily CHZ / BTC chart | Source: TradingView

Highlights

• CHZ erupted over a descending wedge.
• There is a resistance at 1250 satoshis.

HNT

HNT has been falling since May 28, when it hit an all-time high of 66,000 satoshis.

On June 22nd, it hit a low of 30,0006 satoshis and rose again. The rally confirmed the range of 32,000 satoshis as support.

While the indicators are showing some bullish signs, they have yet to confirm a reversal. While the MACD signal line is above zero, the RSI is still below 50 and the stochastic oscillator has not yet produced a bullish cross.

HNT / BTC daily chart | Source: TradingView

The shorter six-hour chart shows a descending resistance line drawn since early June. Until HNT breaks above this line, the trend cannot be considered bullish.

HNT / BTC 6-hour chart | Source: TradingView

Highlights

• HNT trades above the 32,000 Satoshi support.
• It is moving along a descending line of resistance.

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

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