Holo (HOT) Could Spike 70% If This Happens: Top Analyst

Holo (HOT) Could Spike 70% If This Happens: Top Analyst
фото показано с : coinjournal.net

2021-5-21 14:44

HOT could recoup recent losses if altcoins see a significant reversal, technical analyst Michael Van de Poppe suggests.

Holo’s (HOT) price is up 7.91% in the past 24 hours to trade at $0.0087 as of writing. The market capitalisation for the asset stands at $1.57 billion.

Despite trading in the red over the 14-day and 30-day periods as shown on price aggregator CoinGecko, the token’s year-on-year gains stand at 1,570%. This is after a massive run-up seen since last December, with prices surging from lows of $0.0006 on 31 December 2020 to a new all-time high of $o.o3157 5 April 2021.

As this week’s crypto bloodbath tanked Bitcoin to lows of $30k, HOT/USD plummeted too to hit lows of $0.0074. But crypto analyst and trader Michael Van de Poppe has suggested that the token’s price is primed for a fresh upside as profit-taking deals decrease.

According to him, HOT/USD has seen a full retrace from its peak to lows seen in March. A decent support zone near the $0.0057 and $0.007 zone could allow bulls to target new resistance levels. In his opinion, the bullish scenario will play out if the altcoin market witnesses an upward correction in the coming days and weeks.

Well, this is going the way it should for $HOT.

Full retrace after a massive surge.

I'm assuming we'll reverse quite soon on the #altcoins and then this scenario plays out.

Might be interesting to take some entries. pic.twitter.com/rqlzCrBnpM

— Michaël van de Poppe (@CryptoMichNL) May 21, 2021

Let’s see how Holo’s technicals looks today.

HOT/USD price outlook

Like most other altcoins, Holo (HOT) prices largely mirror the sentiment within the Bitcoin market. As such, Bitcoin’s consolidation in the $30-$40k region could see altcoins seek a fresh leg up.

The daily chart shows the RSI is tipping off the oversold line and the MACD is decreasing within the bearish zone. If HOT/USD breaks resistance at the 20-day EMA ($0.0117), it would be above the zone Van de Poppe marked as key to fresh gains.

The next hurdles above this line would be at $0.018 and $0.020, which suggests a 70% surge from the critical $0.011 line.

HOT/USD daily chart. Source: TradingView

Conversely, failure to clear above the bearish trend line would invite new selling pressure and leave HOT/USD vulnerable to a retest of recent lows near $0.0051.

The post Holo (HOT) Could Spike 70% If This Happens: Top Analyst appeared first on Coin Journal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Hydro Protocol (HOT) на Currencies.ru

$ 0.0116584 (-0.32%)
Объем 24H $101
Изменеия 24h: 0.03 %, 7d: -5.97 %
Cегодня L: $0.0113632 - H: $0.0116584
Капитализация $0 Rank 6411
Цена в час новости $ 0.0039595 (194.44%)

analyst could hot happens holo spike journal

Источник: coinjournal.net

analyst could → Результатов: 126


Analyst says ‘Alt Season’ is here; here's what this could mean for Bitcoin and Ethereum

Two months ago when Bitcoin began a rally in January, the flagship crypto reached new ATHs and remained steady over the $30,000 range for a long time. At the time, data from Longhash revealed that in The post Analyst says ‘Alt Season’ is here; here's what this could mean for Bitcoin and Ethereum appeared first on AMBCrypto.

2021-3-30 01:30


Фото:

Why the CFTC suing Coinbase is a bullish blessing in disguise for Bitcoin

On-chain analyst Willy Woo notes that the sanction spree the CFTC has embarked on could potentially be favorable to cryptocurrencies and investors. Taking to Twitter, Willy Woo—an investor and analyst—asked, “anyone noticing BTC getting easier to trade ever since the CFTC went on the warpath to clean up crypto exchanges?”  In the tweet which went […]

2021-3-22 13:53


Fractal Suggests Ethereum has Room to Fall Before Bulls Can Spark Next Uptrend

Ethereum has seen some notable momentum in recent days that has allowed its price to set fresh all-time highs Each break above its previous all-time highs around $1,450 has been fleeting, however, which is a grave sign that could mean downside is imminent For now, ETH’s price action remains firmly correlated to that of Bitcoin, with the benchmark cryptocurrency seeing some turbulence that has shaken its market structure One analyst is now pointing to a […]

2021-1-27 23:00


Фото:

Institutional Buyers May Be Defending Bitcoin from Breaking Below $30,000

Bitcoin has seen a strong rebound today, with bulls defending against a deeper selloff as the crypto neared the lower-$30,000 region overnight Where the entire market heads in the short-term will undoubtedly depend on BTC and its continued reaction to its key near-term support So far, the buying pressure seen between $30,000 and $33,000 has been promising and could indicate that further upside is imminent One on-chain analyst is also noting that this happens to […]

2021-1-14 21:00


Analyst: Bitcoin Could Cross $100,000 in a “Matter of Weeks” as Bulls Take Control

Bulls have taken full control of Bitcoin’s price action, sending the cryptocurrency rocketing up to $40,000 this morning before it faced some resistance It has since retraced slightly but is still looking strong and could be positioned to rally higher in the near-term Each retrace seems to be providing it with fuel for further momentum, which is a sign that bulls are in full control of the mid-term trend Where the market heads next will […]

2021-1-8 23:00


Фото:

The Last Time This Indicator Flashed, Bitcoin Dropped 38%; Now It’s Back

Bitcoin has been facing some turbulence as of late, with the cryptocurrency’s price action greatly favoring bulls Each dip has resulted in aggressive buying pressure that leads it to new all-time highs, with the ongoing bull market turning into a full parabolic ascent The crypto is fast approaching $30,000, with this being a key level that could prove to be a major hurdle for the crypto to break above One analyst spoke about BTC’s outlook, […]

2021-1-2 21:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Mintlayer launches user-friendly staking platform with 198% APY

Bitcoin Layer-2 (L2) platform Mintlayer has announced an upgrade to its staking program, enhancing the user interface (UI) to make it more accessible and easier to use. The simplified staking program is integrated into Mintlayer’s blockexplorer and Mojito wallet browser extension, enabling users to stake their ML tokens and earn substantial rewards. Industry-leading APY attracts […]

PEPE takes a hit after GameStop inspired rally, here’s why it could dip lower

PEPE, one of the largest meme coins in the crypto ecosystem has wiped out 4.19% of its value early on Thursday. The return of legendary trader “Roaring Kitty” associated with GameStop’s 2021 rally catalyzed gains in top meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), Popcat (POPCAT) and PEPE, among others.  […]