Distribution territories: $0.011, $0.012, $0.016
Accumulation territories: $0.0099, $0.008, $0.007
HOT/USD Medium-term Trend: Bullish
Cryptocurrency is in a bullish trend in its medium-term outlook. Shortly after the consolidation, the buyers came into the market with full force and the price was increased yesterday.
The price broke the distribution territories of $0.011, moved upward towards the distribution territories of $0.012 but later rejected at the distribution territory of $0.012, confirmed by the upper long wick candle followed by the strong bearish candle formed yesterday. Buyers lost the pressure and the sellers took over the control of the market; this could be a price retracement. Today On the 4H chart, the opening candle is bearish which suggests a decrease in price.
The 10-day EMA has crossed the 50-day EMA upward, the price is above the 10-day and 50-day EMA with the RSI 14 above 60 and its signal lines flattened, which indicates an indecision movement. The price may increase today in case buyers increases and sustain their pressure.
HOT/USD Short-term Trend: Bullish
The bullish pressure towards the distribution level of $0.012 by the formation of strong bullish candles yesterday was interrupted by the sellers.
HOT started bullish trend immediately after the price consolidation yesterday on the short-term, this was confirmed by the formation of bullish candles. Coin broke the distribution level of $0.011 upside with the formation of massive strong bullish candles towards the distribution territory of $0.012.
Currently, the price is above the 10-day EMA and the 50-day EMA. The RSI 14 is above 50 levels with its signal lines pointing towards the south, which indicates the possibility of downward movement. Should the bulls pressure weakens and could not break the distribution level of $0.011, the price may decrease. Taking short may be logical.