HOT Technical Analysis – Bull Run to Continue Beyond $0.029
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HOT Technical Analysis – Bull Run to Continue Beyond $0.029

April 3, 2021      Ankita Awasthi

As per technical analysis, HOLO is a blockchain-based open-source protocol that provides a robust platform for developing peer-reviewed decentralized applications. Holochain apps eliminate the need for intermediaries and users can have complete control over their own data. HOT is the prime governance token of this blockchain ecosystem.

Past Trends

On March 27, 2021, the opening price of HOT was $0.01. As of April 2, 2021, the closing price of HOT was $0.024. Thus, in the past week, the HOT price has surged by approximately 140%. In the last 24 hours, HOT has traded between $0.017-$0.024.

HOT Price Analysis

 

https://www.tradingview.com/x/pgMXWgOK

Day-Ahead and Tomorrow

Currently, HOT is trading at $0.024. The price hasn’t changed much from the opening price of $0.024. Thus, the market seems neutral.

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The A/D indicator is upward sloping. Thus, whale accumulations are higher than whale distributions. Hence, high buying pressures will exert upward pressure on the HOT price. Thus, we can expect the HOT price to go up.

The MACD and signal lines are positive. Thus, the overall market momentum is bullish. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, we can expect a brief price dip amidst an overall bullish trend.

The RSI indicator is presently at 54%. It faced a bearish swing rejection at 57%. Thus, the selling pressures are on the higher side. Hence, a price pullback may be on the horizon.

HOT Technical Analysis

As per technical analysis, the price is currently inching closer to the first Fibonacci pivot resistance level of $0.0243 and may break out of it soon. If the bulls gain strength, then by day end, we can expect the price to break out of the subsequent resistance levels of $0.026 and $0.029 respectively.

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As some of the oscillators have indicated a price pullback, we can expect the price to test and fall below 23.6% FIB retracement level of $0.022 in some time. If the bullish forces are strong, the price is likely to retest and break out of this level by day close. In that case, the bull-run will continue tomorrow as well.

 

#Holo #HOT
Ankita Awasthi
Ankita Awasthi

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.