HOT Price: Bears’ Momentum Is Equal to Bulls’ Momentum, Breakout Is Imminent

HOT Price Is Range-Bound Within $0.0021 and $0.0019 Levels

HOTUSD Price Analysis – October 05

In case there is an increase in the bears’ momentum, it will make the price to break down the support level of $0.0019, which may reduce HOT to $0.0018 and $0.0016 support levels. When the support level of $0.0019 holds, the price may reverse and face the resistance level at $0.0021, $0.0023 and $0.0025.

Key levels:

Resistance levels: $0.0021, $0.0023, $0.0025

Support levels: $0.0019, $0.0018, $0.0016

 

HOTUSD Long-term Trend: ranging

HOTUSD is on the ranging movement on the daily chart. Holo price falls from the high of $0.0027 resistance level. When the buyers could not push the price above $0.0027 due to weak momentum. Sellers gained more power to push the price downside. The former support level of $0.0025 and $0.0023 turned to resistance level. The price bottomed at $0.0019 support level where it started a ranging movement within $0.0021 and $0.0019 levels.

The fast Moving Average (9 periods) is interlocked with the slow Moving Average (21 periods EMA) and Holo is trading around the two EMAs as a sign of ranging movement. In case there is an increase in the bears’ momentum, it will make the price to break down the support level of $0.0019, which may reduce it to $0.0018 and $0.0016 support levels. When the support level of $0.0019 holds, the price may reverse and face the resistance level at $0.0021, $0.0023 and $0.0025. The relative strength index period 14 is parallel to the level at 43 levels to indicating that consolidation is ongoing.

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 HOTUSD medium-term Trend: Ranging

HOTUSD is on the ranging movement in the 4-hour chart. The price commenced a ranging movement when the price reached the support level of $0.0019. It was not easy for the coin to penetrate the level downside. The buyers’ momentum is equally weak to penetrate the resistance level of $0.0021. This scenario triggers a ranging movement.

The currency is hovering over the 9 periods EMA and 21periods EMA and the two EMAs are interlocked to each other. The relative strength index period 14 is at 48 levels and the signal lines pointing up to indicate buy signal.

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