HOT Technical Analysis: Will Sustained Buying Surpass $0.010 Mark?

HOT coin price encounters an overflow in buying pressure unmistakable by the 36% jump in the last 24 hours. Will the buying spree reach $0.010? Key technical points: HOT coin price approaches the 200-day EMA. In addition, the RSI slope enters into the overbought territory. Finally, the 24-hour trading volume of Holo is $753 Million, marking an 1140% rise. Past Performance of HOT HOT coin price experienced a sudden surge in buying pressure resulting in a 36% growth in a day. The rally creates a bullish engulfing candlestick and brings a rounding bottom breakout with a neckline close to $0.0050 along with the 50 and 100-day EMA. Source-Tradingview HOT Technical Analysis HOT coin price struggles to surpass the $0.0075 mark as it shows higher price rejection with a long wick formation in the bullish engulfing candle and a shooting star candle. Hence, despite the 1000% gain in buying pressure, sellers are overpowering the rising trend. The Holo market price retests the 200-day EMA bullish breakout but the increased selling might shortly succumb the price back under the average line. However, the 50-day EMA continues to grow to give a bullish crossover with the 100-day EMA. RSI Indicator: The RSI slope shows a sharp rejection in the overbought zone but the uptrend sustains as the 14-day SMA approachces to give support. Hence, the indicator projects solid underlying bullishness. MACD Indicator: The rising trend of the positive histog...