- The short and medium-term outlook is in a bearish trend.
- Responsible selling recommended.
HOT/USD Medium-term Trend: Bearish
Supply zone: $0.004000, $0.006000, $0.008000
Demand zone: $0.001000, $0.000900, $0.000800
HOLO is in a bearish trend in the medium-term outlook. The bears retain dominance in the market at the beginning of another trading week with $0.001002 as yesterday low of the day. Today market opened on a bullish note at $0.001144. The coin had a brief rally as price rises to $0.001167 in the supply area.
The bearish momentum may be sustained due to the pressure from the bounce of the trendline. With price below the two EMAs currently at $0.001029 in the demand area. A new low is imminent before the end of today session.
The stochastic oscillator signal points down at 22% suggesting downward momentum in price.
HOT/USD Short-term Trend: Bearish
The cryptocurrency is in a downtrend in the short-term outlook. $0.001150 in the supply area is key resistance. Price rejection occurred in this area over the last two days. The bullish momentum as the market opens today at $0.001046 was lost at $0.001167 in the supply area before the bears took over the control of the market.
Price is above the two EMAs but the stochastic oscillator signal points down at 32% suggesting divergence. This implies that the downward momentum may return in as more traders are in the sell position as suggested by the stochastic oscillator.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.