TheCryptoUpdates
Price Analysis

Daily price analysis for Holo (HOT) – September 28, 2018

HOT

Distribution territories: $0.011, $0.012, $0.016

Accumulation territories: $0.0099, $0.008, $0.007

HOT/USD Medium-term Trend: Ranging

HOT continues in its ranging movement within the range. It has been trading and ranging between the range bond of $0.11 distribution area and the accumulation territories of $0.0099 for many days. The increase of Hot towards the distribution territory of $0.012, which was rejected by the bears that came into the market with force and brought the price below the distribution territory of $0.011 led to price consolidation.

HOT

Sellers increased their pressure; the price was pushed down to the accumulation territories of $0.0099 but rejected at the territory, confirmed by the lower long wick candle. Bulls lost the momentum and the Bears took over the control of the market. Since then the price has been ranging within the channel.

The 10-day EMA has bent upward to the direction of 50-day EMA, the price is on the 50-day EMA and 10-day EMA below 50-day EMA. The RSI 14 is above 50 levels and its signal lines point upward, which indicates an upward movement. The price may go up today should buyers increases momentum.  

HOT/USD Short-term Trend: Bullish

On the short term, Hot is Bullish. Bulls increased their momentum indicated by the formation of bullish candles and the price rallied to the north towards the distribution level of $0.011. Bulls increased momentum made 10-day EMA crossed over 50-day EMA upward.

HOT

The price is above the 10-day EMA and the 50-day EMA. The RSI 14 is above the 60 levels with its signal lines pointing towards the north, which indicates the continuation of upward movement. Should the bulls increase their pressure the distribution zone of $0.011 may be broken. Taking long may give green pips.

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