HOTUSD Price Analysis – May 08
HOTUSD may break down the support level of $0.010 and continue towards the $0.003 and $0.0005. The breakout at the resistance level of $0.018 may increase the price to previous high at $0.031 provided $0.024 does not hold.
Resistance levels: $0.018, $0.024, $0.031
Support levels: $0.01, $0.003, $0.0005
HOTUSD Long-term Trend: Bullish
Holo is on the bearish movement in the long-term outlook. The cryptocurrency has been under the bullish pressure started from March 14. The coin soared to the resistance level of $0.31 on April 05. There was a price retracement to retest the broken level of $0.01. Further increase in price was not possible as the price was confronted with the confluence at the $0.018 level. The Bears’ and the bulls’ pressure seem equal and the price is ranging within the $0.018 and $0.010 price level.
Holo is trading around the 9-period EMA and 21-periods EMA at a close range which indicates that the bearish and bullish momentum is low. The relative strength index period 14 is at 50 levels parallel to the level which indicates consolidation is in progress. HOTUSD may break down the support level of $0.010 and continue towards the $0.003 and $0.0005. The breakout at the resistance level of $0.018 may increase the price to previous high at $0.031 provided $0.024 does not hold.
HOTUSD medium-term Trend: Ranging
HOTUSD is ranging in the 4-hour chart. The price reached the high level of price at $0.031. The price could not break up the mentioned level. Bears took over the HOTUSD market and the price descends to $0.010 level. Further price decrease is not possible and further price increase is prevented at $0.018 level. Holo commences ranging movement.
The 21 periods EMA interlocked with 9 periods and the price trading over the two EMAs. The relative strength index period 14 is not exhibiting specific direction.