- HOLO token price jumps above the resistance level of the $0.0084 mark.
- The token price exceeds all the significant EMAs in the daily chart.
- The HOLO/BTC pair was trading at 0.0000001906 BTC, with an intraday gain of +0.01%.
HOLO token price has entered a bullish stage after finding demand near the $0.0044 mark resulting in an uptrend. The token price gained more than 80% in the past month and now breaks above the $0.0084 horizontal resistance level.
The coin price is trading at $0.008713 with a gain of +2.32% in the last 24-hour. However, with rest in the buying pressure, the intraday trading volume of the token has decreased by 3.70%.
The coin indicates that the bulls are overpowering bears, with the recently made strong bullish engulfing candlesticks with tremendous buying volume.
HOLO Token Casts Strong Bullish Sentiments
In the 4-hour timeframe, the technical chart of HOLO token price action projects a breakout of the solid resistance level with an increased buying volume.
According to the price action analysis, the support level is at $0.0044 and $0.0021, and the resistance level is at $0.010 and $0.014. The resistance level breakout brings hope for HOLO investors and an entry opportunity at retest for new investors.
The price recently crossed over all the significant EMAs. Therefore, investors may find the price sustaining above all the EMA as a positive point. However, the scenario is precisely bullish in the daily timeframe.
The relative strength indicator (BULLISH) indicates a bullish signal in the token as the slope of RSI approaches the oversold zone.
ADX indicator is moving higher, indicating a rise in trend momentum.
The MACD indicator (Bearish) shows a bearish momentum as both the MACD and the MACD line cuts the signal line from above. Moreover, the lines are starting to dip below.
Conclusion – The breakout of the resistance level with the possibility of a bull run brings a ton load of buyers. The increase in buying volume along with the bullish momentum of RSI can drive the price higher. However, early investors/traders must wait till a breakout retest transpires.
Resistance: $0.010 and $0.014
Support: $0.0044 and $0.0021