• The medium-term outlook is in a downtrend while the short-term is in a range-bound market.
• Traders may consider selling at key rejection area with bearish reversal candles.

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 bears took control of the market shortly after yesterday opening at $0.001924 with a bearish marubozu candle. This was around the trendline. Price drops to $0.001696 in the demand area before the end of the session.

The market is currently in a corrective mode with the bulls pushing price toward the trendline. The bears may stage a strong returned around this area for a push to $0.001600 in the demand area as the initial target before the end of today’s session.

The stochastic oscillator signal points up which suggest a minor uptrend before the bears return in the medium-term.

HOT/USD Short-term Trend: Ranging

The cryptocurrency in consolidation in the short-term outlook. HOTUSD has been in a range-bound market since 8th June. The high and low of the coin within the range has been $0.001931 and $0.001649 respectively.

The 1-hour opening candle at $0.001737 was a gravestone an indication of more bulls presence in the market. $0.001863 was the high before the bears' takeover as the scenario continues in the short-term.

$0.001949 is the upper supply area while $0.001649 is the lower demand area of the range. Patience should be exercise for a breakout at the upper area or a break down at the lower area with a retest before a position is taken.

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