• The short-term outlook is in bearish trend while the medium-term outlook is in a range-bound market.
• Patience should be exercise 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 continues in a range-bound market in the medium-term outlook. The bearish railroad formation during yesterday session signaled the bears returned. This led to the break at the lower demand area of the range.

$0.001725 was the low of yesterday session with a bullish hammer formation suggesting the bulls are back.

Today’s 4-hour candle at $0.001846 was bullish spinning top thus confirming the bulls takeover. Price rose to $0.002030 in the supply area as the cryptocurrency returns within the range.

Price is above 10-EMA and the stochastic oscillator signal points up at 29% suggesting upward price movement within the range.

HOTUSD is in consolidation and trading between $0.002500 in the upper supply area and at $0.001900 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

HOT/USD Short-term Trend: Bearish

The cryptocurrency is in a bearish trend in the short-term outlook. The lower demand area at $0.002030 was broken on 4th June with a large bearish candle.

HOTUSD dropped to $0.001725 in the demand area.

The journey down south is just beginning and $0.001600 in the demand area may be tested due to resistance at the broken demand area now support area.

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