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HOLO is a peer-to-peer platform used for hosting decentralized applications built using Holochain. Holochain is a framework for building DApps that does not require the use of blockchain. The goal is to bridge the gap between the internet and applications that are built on Holochain. Holo offers an ecosystem and marketplace in which DApps built using Holochain are easily accessible. Let us look at the technical analysis of HOT.
Past Performance
On July 8, 2021, HOT started trading at $0.0060. As of July 14, 2021, the closing price of HOT was $0.0054. Thus, in the past week, the HOT price has plummeted by roughly 10%. In the last 24 hours, HOT has traded between $0.0052 – $0.0055.
https://www.tradingview.com/x/AL2fcMtW/
Day-Ahead and Tomorrow
At the time of press, HOT is trading at $0.0054. The price has increased slightly from the opening price of $0.0053. Thus, the market looks positive. Also, HOT is currently forming a very narrow range and is ready to break out from this level. A break out would lead to a positive change in the trend, whereas, if the price breaks down from this level, it may continue to follow the downtrend.
On the daily chart, the MACD and signal lines are in the negative zone. Moreover, a bearish crossover by the MACD line over the Signal line has occurred. Thus, the overall market momentum seems bearish, and we can expect the HOT price to fall. However, both the lines are close to the zero lines and may change signs soon. Thus, a trend reversal is on the horizon.
The RSI indicator is at 35%. It has formed a bearish divergence pattern and fallen from the 43% mark. Thus, the market is facing high selling pressure. Hence, we can expect the price to continue to fall for the rest of the day.
HOT Technical Analysis
The price has fallen below the Fibonacci pivot point of $0.0056. As some of the oscillators have shown bearish signals, we can expect the price to fall below the first Fibonacci pivot support level of $0.0053 soon.