Hedera Hashgraph (HBAR), Ankr (ANKR) and Chiliz (CHZ) trade within long-term descending parallel channels.
HBAR and ANKR have already moved above the middle of their respective channels, while CHZ has yet to do the same.
HBAR has been trading in a long-term parallel descending channel since March 15. se channels usually contain corrective movements. It has validated support and resistance lines numerous times.
Most recently, it touched the support line on June 22 and started an upward move.
June 22 low also validated the horizontal area of $ 0.156 as support. token returned to this area once again on July 20 and subsequently began an upward movement.
On July 27, it finally moved above the center of the channel, managing to reach a close of $ 0.197.
Technical indicators on the daily time frame are also bullish. bullish move was preceded by a bullish divergence in both the RSI and MACD. On top of that, the Stochastic Oscillator made a bullish cross (green icon) and the RSI moved above 50.
This indicates that the most likely scenario is a bullish move towards the resistance line of the channel.
- HBAR is trading within a parallel descending channel.
- re is support at $ 0.165.
ANKR has also been trading within a parallel descending channel since March 19. It touched the channel’s support line five times, most recently on June 22. Since then it has moved upwards.
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On July 27 it managed to move and close over the center of the canal.
Unlike HBAR, no bullish divergences are taking place. However, technical indicators remain relatively optimistic. MACD and RSI are both rising, the latter has just crossed 50. However, the Stochastic Oscillator has yet to make a bullish crossover.
resistance line of the channel is at $ 0.11.
- ANKR is trading within a parallel descending channel.
- Technical indicators are relatively bullish.
CHZ has declined within a parallel descending channel since it peaked on March 12. It has bounced off the channel’s support line several times, most recently on May 23, when it hit a low of $ 0.164.
resulting bounce validated the horizontal area of $ 0.20 as support. CHZ returned to this level several times in June and July. Similar to HBAR, these lows were combined with bullish divergences in both the RSI and MACD. On top of that, the RSI has just moved above 50 and the Stochastic Oscillator has made a bullish crossover.
CHZ regained the center of the channel on July 28, but has yet to initiate an upward movement.
resistance line of the channel is at $ 0.45.
- CHZ is trading within a parallel downstream channel.
- re is support at $ 0.20.
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