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- Holo (HOT) price broke the selling zone of a falling parallel channel last night.
- Investors are yet to break the 200 day moving average.
- The market cap of HOLO Crypto rose by 11.8% to $385.6 million in the last 24 hours.
After a downtrend with the appearance of short-sellers, Holo (HOT) crypto raised bullish hopes among buyers last night. Just two trading sessions ago, the digital asset price was trending downwards in a narrow trading range, but now things have changed and it looks like buyers may take further gains on the back of some positive signals.
Eventually, buyers freed themselves from the selling zone as the HOLO token had excessive sideways momentum prior to the bullish breakout. So far, buyers can push the asset price higher after seeing positive sentiments in the cryptocurrency market.
After falling parallel channel breakout, Holo (HOT) price registered 15.47% gain in just a single day. This gain is nearly 80% gain remaining from trading sessions in this week. Later on, buyers face retracement phase because bears attempt selling at $0.0024 level-previous swing high.
Amid retracement stage, HOT token against the USDT pair is trading at $0.002209 mark together with 3% intraday drop. Despite the fact, the market cap of HOLO crypto reclaimed 11.8% in the last 24 hours at $385.6 Million.
Sellers placed selling orders at $0.0024 level, whereas, bulls are ready to reverse downtrend close to $0.0018 to $0.0019 demand zone (green). Last night, trading volume spiked 449% at $107.2 Million, which was an intense volatile session in the last two months. Nevertheless, The 200 day moving average is just remaining to break by investors.
Over the daily time frame, RSI rotated down, and may revisit sami-level before favoring bulls for another price rally.
Conclusion
The Holo (HOT) price is going to hit the 200 day moving average next week. Buyers await a bullish breakout to take upside trade until price reaches the next round level of $0.0030.
Support level – $0.0020 and $0.0018
Resistance level – $0.0030 and $0.0052
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
