HoloChain price analysis: HOLO Token increases in value by 100%, a chance for a bullish entry?

  • The price of HOLO tokens remains below the falling channel even after the price jump of 100%.
  • The coin price breaks the 50 EMA with a jump in volume, but is fighting just below the 200 EMA.
  • The HOLO / BTC pair traded at 0.0000002746 BTC, with an intraday gain of + 12.56%.

HOLO token price has fallen into a parallel downward channel from $ 0.023. The resistance at the 50 and 200 EMA managed to keep the price lower within the channel. However, under the current circumstances, an upward eruption of the canal is suspected in the near future.

The coin price is trading at $ 0.01089, up + 27.22% over the past 24 hours. The HOLO token price has managed to break the 50 EMA. With an increase in the daily volume. A short pullback can be expected if the 200 EMA price reverses. The coin indicates that the bulls are overwhelming the bears, with the recently made strong green candles with huge purchase volumes.

HOLO Token breaks out of the descending triangle, struggles with 50 EMA

In the daily timeframe, the technical chart of the HOLO token price action projects a breakout of the descending triangle with an increased purchase volume. According to the price trend, HOLO’s critical support zone is between $ 0.0055 and $ 0.0065. At the same time, the price is holding near $ 0.01089. The outbreak of the pattern brings hope for HOLO investors and an opportunity for new investors to enter the test again.

The price recently exceeded 50 EMA (yellow) in the 4 hour timeframe. Investors may find the price, which is above the EMA of 50, a positive point. But the price is fighting below 200 EMA. In the daily timeframe, however, the scenario is exactly the opposite.

The relative strength indicator (BULLISH) with a 50 indicates a buy signal in the coin.

The ADX indicator with a value of 28 in the 4-hour period is moving sideways, which indicates the stagnation of the trend dynamics.

graduation – The descending triangle breakout with the possibility of a parallel channel breakout brings a lot of bullish sentiment, but the EMA’s resistance contradicts that sentiment. The increase in buy volume along with the bullish momentum of the RSI can drive the price higher. Early investors / traders will have to wait for a breakout retest to occur.

resistance: $ 0.0165

Support: the zone between $ 0.0055- $ 0.0065

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