Distribution territories: $0.011, $0.012, $0.016
Accumulation territories: $0.0099, $0.008, $0.007
HOT/USD Medium-term Trend: Bearish
The price increased tremendously yesterday and the coin broke the distribution territory of $0.011 and the upper distribution territory of $0.012. Immediately after the increase, the bears came into the market with full force and the price was decreased below the distribution territory of $0.011.
Further pressure from the sellers pushed the price down to the accumulation territories of $0.0099 but rejected at the accumulation territory of $0.0099, confirmed by the lower long wick candle. Buyers lost the momentum and the sellers took over the control of the market. Today On the 4H chart, the opening candle is bearish which suggests a further decrease in price.
The 10-day EMA has crossed the 50-day EMA downward, the price is below the 10-day and 50-day EMA with the RSI 14 above 40 and its signal lines points downward, which indicates a downward movement. The price may go down today in case sellers increases and sustain their pressure.
HOT/USD Short-term Trend: Bearish
On the short term, the bulls lost the momentum towards the distribution level of $0.012 due to the bears increased momentum and the price was pushed back below distribution territory of $0.011 by the formation of long upper tail bearish candles.
HOT started bullish trend immediately after the decrease in price yesterday on the short-term, this was confirmed by the formation of a lower long tail bullish candle.
Currently, the price is below the 10-day EMA and the 50-day EMA. The RSI 14 is above 25 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 today.