HOT coin price encounters an overflow in buying pressure unmistakable by the 36% jump in the last 24 hours. Will the buying spree reach $0.010?

Key technical points:
<ul>
 	<li style="font-weight: 400">HOT coin price approaches the 200-day EMA.</li>
 	<li style="font-weight: 400">In addition, the RSI slope enters into the overbought territory.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Holo is $753 Million, marking an 1140% rise. </li>
</ul>
<h2>Past Performance of HOT</h2>
HOT coin price experienced a sudden surge in buying pressure resulting in a 36% growth in a day. The rally creates a bullish engulfing candlestick and brings a rounding bottom breakout with a neckline close to $0.0050 along with the 50 and 100-day EMA. 

 <img src="https://s3.tradingview.com/snapshots/5/5i78Vb7c.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/5i78Vb7c/">Tradingview</a>
<h2>HOT Technical Analysis </h2>
HOT coin price struggles to surpass the $0.0075 mark as it shows higher price rejection with a long wick formation in the bullish engulfing candle and a shooting star candle. Hence, despite the 1000% gain in buying pressure, sellers are overpowering the rising trend.

The Holo market price retests the 200-day EMA bullish breakout but the increased selling might shortly succumb the price back under the average line. However, the 50-day EMA continues to grow to give a bullish crossover with the 100-day EMA.

RSI Indicator: The RSI slope shows a sharp rejection in the overbought zone but the uptrend sustains as the 14-day SMA approachces to give support. Hence, the indicator projects solid underlying bullishness. 

MACD Indicator: The rising trend of the positive histograms with the MACD and signal lines crossing into the positive category lights a bullish singal. Hence, the indicator projects a buy signal for the Holo token. 

In a nutshell, the HOT technical analysis reflects a post-retest bullish continuation possibility.
<h2>Upcoming Trend </h2>
HOT coin price can reach the $0.0087 horizontal level if the buyers sustain the 200-day EMA stronghold. Moreover, a bullish crossover in the 50 and 100-day EMA will ensure a higher possibility of a bull run to the $0.010 mark.

However, sellers crushing the 200-day EMA stronghold will result in a free fall to the $0.0065 mark.

Support Levels: $0.0065 and $0.0060

Resistance Levels: $0.0087 and $0.010

HOT Technical Analysis: Will Sustained Buying Surpass $0.010 Mark?

HOT coin price encounters a overflow in buying pressure unmistakable by the 36% jump in the last 24 hours. Will the buying spree reach $0.010?

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: Will Sustained Buying Surpass $0.010 Mark?

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