Holo is a blockchain-based peer-to-peer platform for developing decentralized apps. HOT is the native token of this ecosystem, which has returned roughly 200% in the last few days. The launch of the Elemental Chat app that runs on Holoports has worked positively for the HOT token in the crypto market. Past Trends On March 13, 2021, the opening price of HOT was $0.0029. As of March 19, 2021, the closing price of HOT was $0.0081. Thus, in the past week, the HOT price has skyrocketed by a whopping 180%. In the past 24 hours, HOT has been trading between $0.0071-$0.0091. https://ift.tt/3tBD6kI Technicals for the Day-Ahead and Tomorrow Currently, HOT has been trading at $0.0085. The price has increased from the opening price of $0.0082. Thus, the market seems positive. The OBV indicator is falling steeply. Thus, selling volumes are much higher than buying volumes. Hence, high sell-offs are likely to exert downward pressure on the HOT price. The MACD and signal lines are all set to turn negative. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish, and we can expect a price pullback. The RSI indicator faced rejection at 53% and is currently at 46%. Thus, selling pressures are high. Hence, we can expect the price to drop. HOT Price Analysis Currently, the price is above the Fibonacci pivot point of $0.0081. As the oscillators are pointing towards a price dip, we can expect the price to fall up to the first support level of $0.0074, in some time. The price has tested and fallen below the 23.6% FIB retracement level of $0.0086. It may soon fall below the 38.2% FIB retracement level of $0.0083. By day close, if the price falls below the 76.4% FIB retracement level of $0.0076, then probably a trend reversal has occurred. In that case, the price downtrend will continue tomorrow as well.
The post HOT Moving to Lower Pivot of $0.0081 – Technical Analysis appeared first on Cryptoknowmics-Crypto News and Media Platform.
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