TheCryptoUpdates
Price Analysis

Daily Price Analysis for Holo (HOT) – September 17, 2018

Distribution territories: $0.013, $0.016, $0.018

Accumulation territories: $0.011, $0.0099, $0.008

 

HOT/USD Medium-term Trend: Ranging

The strong bullish momentum took HOT to a high of $0.013 in the supply area before it was rejected by the seller’s pressure two days ago. Rejection to upward continuation is seen at the supply area with candles having wicks which are the sign of bullish exhaustion. HOT retested accumulation territory of $0.011yesterday. It returned back into the range above the accumulation territory of $0.011 due to bullish pressure.

EOS remains in consolidation and trading between $5.24 in the upper supply area and at $4.68 in the lower demand area. Traders should be patient for either a breakout at the upper supply area or a breakdown at the lower demand before taking a position.

The 4-hour opening candle at $0.011 is bullish and HOT may move higher today in case the bulls increase their pressure.

Price is above the 10-day EMA and 50-day EMA with the stochastic oscillator above 20 (oversold area) and it signal lines points upward, which indicates an upward movement. The price may resume its uptrend movement as a retracement has been done.

HOT/USD Short-term Trend: Ranging

HOT/USD made a bearish run to $0.0099 in the accumulation area, bears rejected the price to the upward movement with the formation of a doji and a bullish candle as the bulls made a gradual return above the accumulation territory of $0.011.

The coin retested the accumulation territory of $0.011 with a strong bearish candle yesterday, after which it started ranging in the short-term outlook due to the weak pressure from the buyer.  The Price is above the 10-day EMA and the 50-day EMA below the 10-day EMA. The Stochastic oscillator 14 is above 40 levels with its signal lines pointing upward which indicates the possibility of uptrend movement.

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