- HOT finds resistance at $0.0115.
- Closest support at $0.009.
- Holochain retests previous resistance as support.
Today’s Holochain price prediction is bearish as the market retraces after setting a new all-time high at the $0.0115 mark. Therefore, we should see the previous resistance area around $0.009-$0.0095 retested as support.
Cryptocurrency heat map. Source: Coin360
The overall market shows mixed results. Leaders Bitcoin and Ethereum are up by 2.5 percent after some rejection earlier today. Best performance is seen for Filecoin (FIL) as it is up by 20 percent. Meanwhile, Theta has shown the most significant loss of around 5.5 percent.
Holochain price prediction: Holochain sets new all-time high at $0.115, retests previous high as support
HOT/USD opened at $0.0104 today after a very bullish price spike of more than 30 percent took the market price from $0.008 to the current high of around $0.0115 yesterday. Further upside is rejected now, and we should see HOT retrace further to retest previous resistance around $0.009 as support.
Holochain price movement in the last 24 hours
The HOT/USD price moved in a range of $0.007887 – $0.01134, indicating significant volatility over the last 24 hours. Trading volume has spiked by 252 percent and totals $1.3 billion. Market cap has increased to 1.73 billion, ranking the coin in 58th place overall.
HOT/USD 4-hour chart – HOT rejects further upside at $260
On the 4-hour chart, a very strong bearish rejection pin bar candlestick has been set earlier today, resulting in a slight push lower. Currently, the market still has not retested previous resistance as support, indicating that we should see further downside over the next 24 hours. Once the support is tested, HOT will likely start to build a base from which to move higher next week.
HOT/USD 4-hour chart. Source: TradingView
Overall, Holochain has seen good growth over the past week. After consolidating for several weeks at the end of February and the beginning of March, HOT spiked higher on the 13th of March.
From there, HOT/USD pushed higher for several days until resistance was met around $0.0095. A sharp retracement towards $0.006 then followed. After spending more than a week consolidating above $0.007 support, HOT made a move higher yesterday and broke through the previous resistance around $0.0090-$0.0095 until a new all-time high was set at the $0.0115 price level.
Over the past hours, the Holochain price momentum has shifted as bulls took profits, pushing the market slightly lower. Therefore, we expect HOT/USD to move lower over the next 24 hours and retest the previous resistance area around $0.009-$0.0095 as support. If the market finds support there, we should see further attempts to move higher next week.
Alternatively, if the support breaks, HOT/USD could retrace most of the gain and retest the previous major support area around $0.007-$0.0075. This would indicate an overall shift for the several week bullish momentum. However, considering how much Holochain has gained over the past weeks, this wouldn’t be a surprise. Therefore, it is important to wait for how the price of HOT/USD will react around the previously mentioned support.
Holochain Price Prediction: Conclusion
Holochain price prediction is bearish as the market rejects further upside and has printed a very large bearish pin-bar candlestick. Therefore, we expect HOT/USD to retrace further and test previous resistance as support. If HOT/USD respects the support, we should see an attempt to set another higher high next week.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.