• The short-term outlook is in a range-bound market while the medium -term is in a downtrend.
• Patience is required at this period.

HOT/USD Medium-term Trend: Bearish

Supply zone: $0.004000, $0.006000, $0.008000
Demand zone: $0.001200, $0.001000, $0.000900

HOLO continues in the downtrend in the medium-term outlook. The bears' initial target at $0.001600 in the demand area predicted in the last article was taken shortly after the market opens yesterday. Price further plummeted to $0.001545 before exhaustion sets in and the bulls stage a comeback.

HOTUSD rose to $0.001813 due to the brief bulls control as price approaches the trendline. Today’s opening had the bulls still in control with price up at $0.001836.

The divergence between price and the stochastic oscillator signal points which points up at 68% suggest a minor uptrend may occur before the major bears' comeback that will produce a new low of the day in the medium-term.

HOT/USD Short-term Trend: Ranging

The cryptocurrency remains in a range-bound market in the short-term outlook. The breakdown in price at the lower demand area of the range was short-lived. After price fell to $0.001545, the retest failed as the bulls returned the cryptocurrency back in the range as HOTUSD rose to $0.001814 before closing.

Price was briefly down to $0.001615 and back up at $0.001846 as the struggle for market dominance continued between the bulls and the bears 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 exercised 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.