Analysis

HOLO (HOTUSD) Price: Bearish momentum Increases, $0.013 May Be Penetrated

HOTUSD Price Analysis – November 13

Further increase in the bears’ momentum will make the price to break down the support level of $0.013; below it are $0.011 and $0.0009 support levels. Should the $0.013 support level holds; the price may reverse continue bullish movement towards the resistance levels at $0.015, $0.016 and $0.018.

HOT/USD Market

Key levels:

Resistance levels: $0.015, $0.016, $0.018

Support levels: $0.013, $0.011, $0.092

 

HOTUSD Long-term Trend: Bearish

HOTUSD is bearish on the daily chart. The bulls have been in control of the Holo market. The bullish momentum made the price to increase from the low of $0.009 to $0.016 level. The bears took over the market on November 04 when the price reached the high of $0.016price level. A shooting star candle pattern formed at the just mentioned level. The price obeyed this bearish command, the price decline towards the support level of $0.013 after it penetrates the $0.015 level. The price may penetrate the $0.013 level.

HOTUSD Daily chart, November 13

The fast Moving Average (9 periods) is bending towards the slow Moving Average (21 periods EMA) and the price is trading below the fast EMAs but above the slow EMA as a sign of bearish movement. Further increase in the bears’ momentum will make the price to break down the support level of $0.013; below it are $0.011 and $0.0009 support levels. Should the $0.013 support level holds; the price may reverse continue bullish movement towards the resistance levels at $0.015, $0.016 and $0.018.

HOTUSD medium-term Trend: Bearish

HOTUSD is bearish in the 4-hour chart. A chart pattern that looks like a double top appear on the 4-hour chart. The price decline from the high of $0.016 to the support level of $0.013. It is currently consolidating at the level.

HOTUSD 4-hour chart, November 13

 

The coin has crossed over the 9 periods EMA and 21periods EMA downside and the later EMA is above the former EMA which indicates that the bears are in control of the market. The relative strength index period 14 is at 40levels and the signal lines pointing up to indicate buy signal which may be a pullback.

Related Articles

Leave a Reply

Your email address will not be published.