Here’s Why Rising Hedera Price Could Revert From $0.062 Resistance

The bull cycle within the descending triangle pattern encourages buyers to hit the $0.0622 resistance. Until the price action remains trapped in this pattern, the altcoin will continue to walk sideways. The Hedera price currently trades at the $0.06 mark, and the area between the trendline and $0.058 can be considered as no trading zone.

Key points from Hedera price analysis:

• The rising price has reclaimed the 20-day EMA.
• The daily-RSI slope is entering the bullish territory. 
• The intraday trading volume in the Hedera coin3 is $736.2 Million, indicating a 32% gain.

Source- Tradingview

The Hedera price action has been resonating in a descending triangle pattern for nearly five months now. The altcoin has retested the pattern’s barrier, i.e., the downsloping trendline and the neckline support of $0.058-$0.056 multiple times, indicating the traders are actively responding to these levels.

The recent reversal from the support neckline has accounted for a 6.5% gain in the last five days. With sustained buying, the altcoin should rise another 5% to hit the $0.062 and