- The short and medium-term outlook is in a range-bound market.
- Patience is required at this period.
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. $0.002066 was the high while $0.001689 was the low as a definite trend is yet to unfold. Today’s 4-hour opening candle at $0.001760 is a bullish marubozu suggesting the bulls may dominate the market in the medium term.
Price is above the two EMAs and already up at $0.002071 and the stochastic oscillator signal pints up at 52% an indication of upward momentum in price of the cryptocurrency 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: Ranging
The cryptocurrency remains in a range-bound market in the short-term outlook. Price broke out from the upper supply area as the coin rose to $0.001998 on 24th June. The momentum was lost as the candle closes with a wick.
$0.001734 was the low before the end of the session. $0.001697 was yesterday low as the bears’ journeys toward the lower demand area.
Today’s market opened on a bullish note at $0.001749. HOTUSD was briefly up at$0.002017 a breakout from the upper supply area. The signal of the stochastic oscillator is up at 79% an indication of upward momentum in price within the range 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.
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