HOT Technical Analysis – October 2021
In the last 30 days, HOT has been relatively unstable. Its price initially declined by around 30%, but it found support at $0.007. HOT started increasing again, and it reached $0.01. The price started declining again and has now formed a rounding top pattern, meaning that the price is bearish if the buying pressure is low.
In the last 7 days, HOT has declined by 19%. Nonetheless, the price of HOT has slightly increased recently. The short-term trend is bearish for HOT.
In the intraday chart, HOT was initially in consolidation, but then had a downward breakout of more than 4%. After that, the price started increasing again. HOT is bullish in the intraday chart.
The 20-day moving average is currently below the price and acting as support for the price of HOT. This could indicate that the trend is still upward and that the price of HOT could keep increasing in the coming weeks.
The 9-day EMA is slightly above the price, meaning that the trend might now be downward and that the EMA line could resist any upward movement of the price.
Relative Strength Index
The RSI of a daily chart is fairly average and at around 50, meaning that the buying and the selling pressures are somewhat equal. In a 4-hour chart, however, the RSI is more bearish.
The MACD line is above the signal line and above the baseline. This indicates that the momentum is bullish, despite the lines slightly converging. In a 4-hour chart, the signal line had been above the MACD line, but now the lines are intersecting, indicating that the momentum might change and be bullish.
Fear & Greed
The fear and greed indicator suggests that the current emotion of HOT traders is fear.
The Fibonacci retracement levels suggest that the price could find support at the 61.8% level. If that occurs, then the price of HOT could increase and aim for the 23.6% extension level in the coming days.
Price Prediction HOT – October 2021
Based on this technical analysis on Holo (HOT), we could see its price increase in the coming days if Fibonacci is respected, then we could see the price of HOT increase at larger rates in the coming days. Since BTC is projected to increase in the coming weeks, we could see altcoins such as Holo soar as well. The price of HOT could eventually reach $0.10.
Latest News for HOT – Affecting Price
Recently, BTC has been increasing, and many experts are projecting this upcoming bullish trend to be one of the biggest in the market so far. Perhaps this could see the price of HOT increase at immense rates in the coming months.
Also read: Holo (HOT) Price Prediction 2021 and Beyond – Is HOT a Good Investment?