cryptonewsland.com
- HOT gained 15% in one day and broke resistance after a confirmed symmetrical triangle breakout.
- Analysts forecast a midterm price target of $0.011482, which would be a 393% increase from the current price.
- Reduced selling pressure and strong demand suggest Holo could continue its bullish trend toward higher resistance levels.
Holo has made a comeback after bouncing from a favorable level and confirming a breakout above resistance. Experts are forecasting a midterm price rally of up to 300% as the token’s technical indicators suggest further upward pressure. The recent movement is drawing attention from traders and investors eager to evaluate its capability.
Source: World Of Charts
Holo Breaks Key Levels After Prolonged Downtrend
Holo’s recent breakout above a symmetrical triangle pattern, which had been forming since 2021, marks a crucial turning point. The price action shows a confirmed retest of the upper resistance level, now acting as a strong support area. This movement suggests bullish momentum is building after a lengthy consolidation phase.
According to the chart, the token gained 15.07% in a single day, trading at $0.003458, signaling renewed investor interest. The study projects a price target of $0.011482, representing a 393% probable upside from the current value. These forecasts align with technical indicators that suggest the token has entered a bullish phase.
Moreover, the triangle breakout reflects reduced selling pressure and growing demand as Holo approaches key resistance areas. Traders are closely monitoring its performance to assess its ability to maintain this upward trajectory in the coming weeks.
Analysts Share Optimistic Projections
World Of Charts, a widely followed cryptocurrency analyst, shared insights on Holo’s performance, describing the breakout as a pivotal development. In their study, they highlighted the importance of the symmetrical triangle breakout and the strong recovery after retesting support.
The analyst stated, “HOT bounced from a crucial area and recovered quickly after the correction. This retest makes me more bullish for the next few weeks.” They further forecast a midterm rally of 300%, reinforcing optimism among traders watching Holo’s potential for significant gains.
Their earlier analysis on November 30 warned that Holo’s breakout might be the last chance to buy before the altcoin season. This prediction is now gaining attention as the token shows strong signals of continued momentum.
Will Holo Sustain Its Growth?
Holo’s breakout raises important questions about its ability to sustain this momentum as it approaches key resistance levels. Traders are eager to see if the token can maintain this bullish trend in the coming weeks.
With a price target of $0.011482 in sight, the market will closely watch Holo’s movements to determine whether it can achieve this ambitious forecast. The token’s reduced selling pressure and steady upward trend are positive signals for its future.