A meme coin named HOUSE, based on Solana, has recently surpassed a descending trend line that had been limiting its price movement since April 30. This breakout coincides with a broader cryptocurrency market rally, leading to a 10% surge in the value of the HOUSE token over the previous 24 hours.

Despite this positive breakout, various technical indicators suggest that bearish pressure still persists.

After experiencing a significant decline of 71% between April 30 and May 20, the HOUSE token has bounced back, surpassing the previously obstructive trend line. The recent surge in demand within the cryptocurrency market has contributed to the rebound of HOUSE, making it the third most purchased small-cap token among smart money investors in the past day, signaling a renewed interest from institutional investors.

However, technical analyses indicate the presence of bearish sentiments in the spot markets of HOUSE. For instance, the Super Trend Line of HOUSE currently acts as a dynamic resistance level at $0.087, indicating the dominance of selling pressure. If the token aims to surpass this level, it will face challenges due to the reinforcing bearish sentiment from the trend line.

Moreover, the Aroon Down Line for HOUSE remains close to 100%, indicating continued bearish momentum and the probability of a downtrend continuation despite the recent price breakout. Currently trading at $0.044, the increased bearish pressure might lead HOUSE to retest the support line at $0.043, with a potential further decline to $0.026 if this support fails.

However, the bearish outlook could change if there is an increase in demand for the HOUSE token, potentially driving its value up to $0.051.