HNT Price Analysis: HNT is set to continue trading in the descending triangle pattern

• HNT Token Price failed to break the resistance of the descending triangle pattern
• Coin has entered a consolidation phase on the hourly chart
• MACD indicates bullishness for the coin on both the time frames

HNT Token Price has been on a descending triangle pattern over the last three months. The Moving Average Convergence Divergence (MACD) is hinting at a bullish momentum over the next few trading sessions. The coin has formed the base of the triangle at $ 22- $ 24. The coin has been receiving steady volumes over the past few months.

HNT Token Price had been on a bullish trend trading in a bullish parallel channel. The coin is currently trading in a consolidation zone after breaking out of the bullish channel. The consolidation zone is between $ 29.30 and $ 31.80. The MACD indicator hints at a bullish momentum for the next few days.

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Conclusion:

HNT looks set to continue in the bearish descending triangle over the next few trading sessions after failing to break the resistance zone on the daily chart. Having said that, the MACD indicator is hinting at bullishness for the token.

Support: $ 23

Resistance: $ 31.80

DISCLAIMER: The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish any financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.