• The short and medium-term outlook is in a bearish trend.
• Traders may consider selling at key areas with a bearish reversal candlesticks pattern.

HOT/USD Medium-term Trend: Bearish

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

Holo is in a downtrend in the medium-term outlook. The strong resistance at the EMAs prevented further upward price movement at $0.002037 in the supply area on 7th June. Bullish exhaustion denoted by wick was obvious at this key area.

Lower lows formation has been attained which area synonymous with down trending market due to the strong bears' pressure on price. $0.001794 and $0.001649 were the low on 8th and 9th June respectively.

Today’s 4-hour candle at $0.001649 is a bullish doji an indication of a minor reversal to the upside is in-view to the resistance area t the 10-EMA before bearish continuation to the downside in the medium-term outlook.

$0.001500 in the demand area is on the card as the bearish momentum increases.

HOT/USD Short-term Trend: Bearish

The cryptocurrency continues in a bearish trend in the short-term outlook. The bears held on to the market despite a brief bulls takeover on 6th June.

HOTUSD was back up at $0.002037 in the supply area but failed to continue the upward movement as the bears staged a comeback and pushed price back down to $0.001649 in the demand area as the low of yesterday session.

The 1-hour opening candle at $0.001743 was bullish an indication of bulls gradual returned. A break at the 10-EMA resistance may increase the bullish momentum to the 50-EMA before the exhaustion sets in and the bears' return for continuation. This is due to price below the EMAs and the stochastic oscillator signal is undefined in the short-term outlook.

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