The bears’ momentum is decreasing in HOT market
HOTUSD Price Analysis – October 19
When there is an increase in the bears’ momentum, Holo may decrease to $0.0018 and $0.0016 support levels. In case the support level of $0.0020 holds, price may bounce up and change direction towards the resistance level at $0.0021, $0.0023 and $0.0025.
Resistance levels: $0.0021, $0.0023, $0.0025
Support levels: $0.0020, $0.0018, $0.0016
HOTUSD Long-term Trend: Ranging
HOTUSD is ranging on the daily chart. The bearish momentum was increasing in the Holo market. Price reduced to the support level of $0.0019 on September 06. The sellers’ pressure could not break down the mentioned level. Likewise, buyers’ momentum is low and could not penetrate the resistance level of $0.0021. This led to ranging movement within $0.0021 and $0.0019 levels. Ranging movement may continue until there is a breakout.
The fast Moving Average (9 periods) is close to the slow Moving Average (21 periods EMA) and the price is trading around the two EMAs as a sign of ranging movement. When there is an increase in the bears’ momentum, price may decrease to $0.0018 and $0.0016 support levels. In case the support level of $0.0020 holds, price may bounce up and change direction towards the resistance level at $0.0021, $0.0023 and $0.0025. The relative strength index period 14 is pointing down at 42 levels to indicate a sell signal.
HOTUSD medium-term Trend: Ranging
HOTUSD is bearish in the 4-hour chart. The ranging movement commenced when sellers pushed down the price to the support level of $0.0019. Buyers opposed the sellers movement but unable to break up the resistance level of $0.0021. There is currently low volatility in the Holo market and this cause ranging movement within $0.0019 and $0.0021 levels.
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The 9 periods EMA and 21periods EMA are interlocked to each other which indicate ranging movement. Holo is trading around the two EMAs. The relative strength index period 14 is at 42 levels and the signal lines pointing down to indicate sell signal.