• The short-term is bearish while the medium-term outlook is in a range-bound market.
• Traders should be patient trading the consolidation.

HOT/USD Medium-term Trend: Ranging

Supply zone: $0.004000, $0.006000, $0.008000
Demand zone: $0.001400, $0.001200, $0.001000

HOLO is in a range-bound market in the medium-term outlook. $0.001973 was the high while $0.001634 was the low within the range during yesterday session. The bears dominated the range right from the opening of the market.

Today’s 4-hour opening candle at $0.001732 sustained the bearish momentum with a further drop in price to $0.001624 before momentum loss as the bulls made a gradual returned.

Price is up above the two EMAs at $0.001826 and the stochastic oscillator signal is undefined at 24% an indication of the ranging scenario in the medium-term.

$0.002100 is the upper supply area while $0.001600 is the lower demand area of the range. Patients should be exercised for a breakout at the upper area or a break down at the lower area with a retest before a position is taken.

HOT/USD Short-term Trend: Bearish

The cryptocurrency is in a bearish trend in the short-term outlook. The coin is in a descending channel as the bears push price down the lower line of the channel. The bulls had a brief hold of the market as it opens today at $0.001727.

HOTUSD rose to $0.001899 around the upper line of the channel but closed with the wick as an inverted hammer. This suggests bears returned as price drops to $0.001650.
Price is back at the upper line and a bounce to the downside is most expedited as the bears stage a return.

$0.001400 in the demand area is the bears' initial target as the bears build up pressure for the journey down south in the short-term.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.