- HOT Token price action breaks above a consolidation range in the daily chart.
- The retest of the range with low volume generates buying opportunities with minimum risk.
- The pair of HOT/BTC is trading at 0.0000002055 BTC with an intraday move of +3.96%
HOT Token price breaks above the consolidation range as the underlying bullishness increases in the daily chart. The recent formation of the bearish candlestick drives the price lower, indicating a retest of the consolidation range.
Pivot point analysis has shown that the resistance levels of the Token are at $0.017, following $0.020. However, if the price drops below $0.011, sellers could face resistance at $0.0090 and $0.0046.
HOT Token trades for $0.01273 and has experienced a 6.63% rise in market capitalization within 24 hours. In addition, the intraday trading volume increased by 275% over the last day.
What If The Retest Fails Into A Downfall?
If the downtrend continues, investors will soon see the price fall below the $0.011 mark. Bearish entry opportunities for traders can be found at the pattern breakout.
The HOT token price shows a bearish trend, with its price trading below all the crucial EMAs 20, 50, 100, and 200. Furthermore, the price action indicates a rise in the number of sellers driving the price lower.
The RSI indicator predicts a rise of the underlying bullishness HOT token price as the slope falls in the daily frames.
MACD indicators display the MACD, and signal lines fall lower into the daily chart. The MACD indicator indicates a sell signal.
Conclusion: A HOT Token Price indicates an increase in the underlying buying power despite the bearish candlestick in the daily chart. Investors can therefore expect the token price soon to touch $0.020 if there is sustained buying pressure.
Resistance– $0.017 or $0.020
Support– $0.011 and $0.009