Distribution territories: $0.011, $0.013, $0.016
Accumulation territories: $0.0099, $0.008, $0.007
HOT/USD Medium-term Trend: Bullish
HOT/USD continues its bullish trend in a medium-term outlook yesterday. The strong bearish pressure was lost after a drop in the price of the cryptocurrency to the accumulation territories of $0.0099.
The bulls return was confirmed by a bullish gravestone doji and price was up to the distribution territories of $0.011 before the end of yesterday. The 4-hour opening candle at $0.011 was bullish and HOT broke the distribution territories of $0.011 and moved higher with a strong bullish candle to upper supply area of $0.013 earlier today.
Price is above the 10-day EMA and 50-day EMA with the stochastic oscillator above 80 (overbought area) and it signal lines points down, which indicates a downward movement in the cryptocurrency price to retest the distribution territories of $0.01. The price may resume its uptrend movement after a retracement.
HOT/USD Short-term Trend: Bullish
The cryptocurrency enters an uptrend movement in its short-term outlook. After a bearish run to $0.0099 in the accumulation area, rejection to the upward movement was seen with the formation of a doji and a bullish candle as the bulls made a gradual return.
Price was up to the supply area of $0.011 earlier today and broke the strong supply zone with the formation of strong bullish candle towards the upper supply zone of $0.013. Currently, the price is retesting the accumulation territories of $0.011. 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 level with its signal lines pointing upward which indicates the possibility of uptrend continuation..
