- HAEDAL/USDT has broken a descending trendline, signaling a possible reversal after reaching a low of $0.0951.
- Key resistance is currently being tested at $0.1239 with good support at 0.1095.
- The trading volume jumped to $6.76M, showing bullish momentum on a poor-looking broader altcoin market.
HAEDAL/USDT has shown signs of strength despite wider market weakness across the altcoin sector. As observed on the 8-hour Binance chart, the asset broke above a descending trendline that has held since June 1, when HAEDAL traded near $0.1708. This upward breakout follows a price recovery from a local low of $0.0951 recorded on June 11.
The price recovered since then and is currently trading at around 0.1233, a 24-hour gain of almost 8 percent. This rally happens as other altcoins face pressure. Notably, HAEDAL’s price action has begun forming higher lows, indicating a possible shift in momentum.
Price Tests Resistance Following Breakout
The trading range positions the cash at a point where HAEDAL is testing a major resistance point at 0.1239. The price zone matches well with the breakout of the descending trendline that occurred recently, which is a technical confirmation of the ongoing uptrend activity. According to the 8-hour chart, if the price closes above this resistance with volume confirmation, it could indicate continuation toward the $0.1410 region.
The breakout follows a retest of the $0.1095 support level, which has held firm over the past week. This level previously served as a reaction zone after the asset fell from the $0.17 range earlier this month. Further bullish feeling can also strengthen in case of a protracted superiority over $0.1095.
In the meantime, the 24-hour trading volume of HAEDAL amounts to 59.25 million tokens, valued at 6.76 million USDT. This volume increase supports the recent price surge.
Technical Conditions Point to Momentum Shift
The chart reveals that HAEDAL has moved beyond its previous lower high pattern and is now attempting to establish a new trend structure. With the downtrend broken and bullish candles forming consecutively, technical indicators suggest increased buying interest.
The current price at $0.1233 remains just below the resistance of $0.1239. However, price structure shows stabilization above $0.1190, offering early signs of trend reversal. If bulls maintain control, the next price level to monitor lies around $0.1410.
Despite broader market sell offs in other altcoins, HAEDAL appears to be showing early resilience, supported by increased volume and a shift in price structure.
