HOT token price is under a consolidation range while the underlying bearishness increases. Hence, a downfall is possible.

Holo is a peer-to-peer distributed platform that hosts decentralized applications created using Holochain. This framework allows for the development of DApps and does not require the use of blockchain technology. Holo serves as a bridge between apps created using Holochain and the wider internet. It offers an ecosystem and marketplace where DApps can be easily found since Holo network participants host them.

HoloFuel will facilitate the Holo network. It is currently being tested. In addition, HoloFuel will act to pay hosts for their services. The project created an ERC-20 token called HOT, also known as Holo Token. This "IOU" will be redeemable for HoloFuel at launch.

Let us now look at the technical analysis of HOT cryptocurrency.   
<h2>Past Performance of Holo</h2>
Since September 20th, the HOT coin price is under tremendous selling pressure as it falls from one consolidation range to another. Thus, falling lower to the $0.0075 support zone by <a href="https://www.cryptoknowmics.com/news/hot-technical-analysis-price-has-fallen-below-the-fibonacci-pivot-point-of-0-0133/">forming lower lows</a> under the substantial bearish influence. 

<img class="tv-snapshot-image aligncenter" src="https://s3.tradingview.com/snapshots/o/ocBk57hL.png" alt="TradingView Chart" width="1244" height="650" />

Source - <a href="https://www.tradingview.com/x/ocBk57hL/">Tradingview</a>
<h2>HOT Technical Analysis</h2>
At the time of writing, Holo cryptocurrency is at $0.0078. Additionally, it has experienced a rise of 0.40% in the past 24 hours. In addition, the intraday trading volume of the coin fell 13%, indicating a loss of buyer’s interest.

The bearish breakout of the consolidation range above $0.0090 caused a fall of 20%. And now, the coin price is again within a rectangular range between $0.0074 and $0.0082. 

The increasing underlying bearishness forecasts a downfall of the consolidation. This can potentially result in a fall of 30%. On the other hand, the unlikely possibility of a bullish breakout can give 15% to 25% returns.

The RSI slope moves below the central line in the daily chart. In addition, the slope moves sideways slightly above the boundary of the oversold region. The breakout of either can give a clear understanding of the future trend.

HOT Token crypto trades below all the crucial Exponential Moving Averages in the daily chart. Moreover, the falling 50 and 100 days EMA can give rise to a bearish crossover shortly.

The MACD and signal lines are below the zero mark on the daily chart. However, the lines may soon give a bullish crossover as the bearish histograms weaken. The crossover will generate a buy signal.
<h2>Upcoming Trend</h2>
HOT Token's technical analysis indicates that the HOT Token is under a consolidation range. As a result, the overall selling pressure is high. But the strong support zone of $0.0075 can revert the bearish attack. Thus, the technical indicators generate a slight buy signal. However, investors can wait for the price action to give a better clarification of the trend.

HOT Technical Analysis: Price Under Critical Consolidation

Holo (HOT) token price is under a consolidation range while the underlying bearishness increases. Hence, a downfall is possible.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

HOT Technical Analysis: Price Under Critical Consolidation

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