• The short-term is in a bullish trend while the medium-term outlook is in a range-bound market.
• Traders may consider buying at key areas with bullish reversal candles.

HOT/USD Medium-term Trend: Ranging

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

HOLO continues in a range-bound market in the medium-term outlook. The breakdown at $0.001600 in the lower demand area of the range due to the bears' pressure was short-lived. The wicks in the candles were an indication of exhaustion as price closed within the range.

Today’s 4-hour opening candle at $0.001721 closed as a bearish spinning top an indication of sustained bears pressure carried over from the weekend market dominance within the range. HOTUSD dropped to $0.001595

The bulls are gradually retuning with price above the two EMAs at $0.001886. The stochastic oscillator signal points up at 51% an indication bullish continuation in the range in the medium-term.

$0.002100 is the upper supply area while $0.001600 is the lower demand area of the range. Patience 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: Bullish

The cryptocurrency is in a bullish trend in the short-term outlook. Today session opened on a bullish note at $0.001715. The momentum was sustained as the coin rose to $0.001886 in the supply area. Minor drawdown to $0.001601 by the bears occurred. This was a market correction and confirmation of the bullish continuation.

Price is back up above the two EMAs as the bulls resume the upward journey. The signal of the stochastic oscillator points up at 53%. These suggest an upward movement as the bulls' pressure becomes stronger.

$0.001950 in the supply area is the bulls' initial target as the journey up north continues 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.