Holo (HOT), which hit a record high at the beginning of April, entered a post-$ 0.031 bearish channel. The declining effect has been going on for a while.
Although this effect pushes the price to $ 0.017 levels, the asset seems to have gotten rid of this channel during the day.
The asset, which saw an increase of more than 25%, rose by $ 0.0236. However, the entity stuck with the resistance had to withdraw a little. Movement ahead may force the presence to push up. It will be necessary to wait for favorable conditions to wait for a new bullish wave.
The Future of Hot Coin is at the Edge
Technical indicators gave a positive impression with the last change. The upward trend brought movement to a buy signal in the Stochastic data. The rising RSI is below the neutral 50 but is in an upward trend. The MACD signal line outlook has not yet been confirmed, but if followed, a conversion may come in the coming hours and a price increase may be supported.
As an important problem, the lack of demand and the low volume have not overcome the negativity of the price increase yet. Recent declines have increased the dominance of investors who withdraw from the asset.
There is a 50-day moving average ($ 0.0233) limit in front of the upward movement of the price. Exceeding this limit can be seen as a level that will take the price to a rapid rise and confirm its exit from the channel. On the other hand, this level will also serve as a BUYING point. This means that it confirms the demand required for the rise.
HOT prospects tend to flare up again, with the asset initial resistance seen at $ 0.0233. The rebound, which will accelerate after this level, will wait for the $ 0.02541 and $ 0.0287 levels as key resistance areas, respectively. If unwanted decline continues, initial support will be sought at $ 0.0193.