The HOT Crypto Price Degraded a Lot; Can It Turn Around Soon?

• 1 Decreased volatility suggests a stable HOT price, and high volume in loss highlights that most holders may hold or start to buy more.
• 2 Despite recent declines, there are signs of potential recovery. If buyers enter, the price may surpass key EMA levels.

The HOT crypto experienced a bullish market from October 2023 and saw a significant increase in price value from $0.001000 to $0.0051200 by March 13, 2024. During the last six months, it performed well with a 64.14% gain, but in the past week and month, the price violated the uptrend from the supply level of $0.0051200. As a result, the chart showed a weekly decline of -23.07% and a monthly decline of -44.13%, respectively.

However, the HOT crypto has revealed a sign of possible recovery coming soon on the daily chart, as the price showed sustenance gestures at a crucial support level of around $0.0018250.

There is a good chance that the HOT crypto may experience another significant surge from its current support level, considering that its price previously soared from this same level. That’s because the bulls are ready to break through the resistance level and soar to new heights from the current support zone.

Technical Indications in the HOT Crypto

The HOT crypto shows that the bullish strength is reviving in the crypto, and its rising capacity is lurking on the daily chart. If the desired buyers enter the market, its price can aim to cross major 20-day and 50-day EMA’s from below.

Meanwhile, the HOLO crypto asset is displaying bullish behavior as the MACD histogram is not growing, which is at -0.0000943 and confirms the sustenance activity. Similarly, the RSI highlights that it can extend its gains, as it has turned in the 14SMA direction in the hopes of cutting it from below.

HOT crypto has seen an increase of 8.21% in the past 24 hours and is being traded at $0.0023206 at this moment of writing.

Therefore, if the demand for the HOLO price (HOT)) increases from the current support, it could bounce back remarkably. The next target for the price could be to reach $0.0033500 and $0.0037500.

In case the price value of HOT crypto is unable to remain above the level of $0.0018250, it may experience a further decrease.

HOT Price Volatility Analysis with Respect to Volume 

After conducting a thorough analysis of the Santiment website volume chart, it can be observed that on March 3, 2024, there was a significant increase in the level of activity in the HOLO market. This rise in activity indicated a growing interest in the market during that period, consequently leading to an increase in the market price. Furthermore, it is worth mentioning that the volume of activity had previously crossed the $300.0 Million benchmark.

However, from March 4, 2024, volume continued to fall, and a significant descent in HOT crypto activity was observed, which illustrated decreased demand and excitement about HOLO price. The trading volume depleted from $300 Million to the low of $12 Million by April’s first week on the HOT chart(Santiment website).

Correspondingly, with the price degradation, the volatility has also declined, which has brought stability to its current price. The low volatility shows that the price is stable and showing sustenance, which is a bullish sign on the chart.

On Chain- The transaction volume ratio Of HOT Crypto in daily profit to loss

Since the volume in loss is high and the ratio is below 1, most holders in the HOT crypto are in an unfavorable position. Besides, its sentiment and behavior may be more likely to hold the asset or buy more.

Similarly, it also highlights that related to its supply dynamics and price pressure on the asset, a large number of HOT tokens are locked or illiquid, creating upward pressure on the HOT price.

Likewise, it also exhibits regarding the trend and momentum of HOT, that the volume in loss is increasing and increasing, and the ratio is falling, which means that the HOLO token is in a downtrend and losing momentum as more holders are becoming unprofitable.

Summary

HOT crypto saw a price surge from $0.001000 to $0.0051200 by March 13, 2024. Despite recent declines, there are signs of potential recovery, with support at $0.0018250. If buyers enter, the price may surpass key EMA levels. Bullish indicators suggest a target of $0.0033500 and $0.0037500.

Analysis of the volume chart on the Santiment website showed increased activity in the Holo market on March 3, 2024, leading to a price rise. However, volume dropped from $300M to $12M by April, indicating decreased demand. Decreased volatility suggests a stable price and a high volume of loss signifies that most holders may hold or start to buy more. Locked tokens pressure the price upward, but the falling ratio shows a downtrend for the Holo crypto.

Technical Levels

Support Levels: 0.0018250

Resistance Levels: 0.0033500

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.