Holo Price Prediction 2021 – Will HOT Hit $0.035 Soon?

Holo Price Prediction 2021 - Will HOT Hit $0.035 Soon?
  • Bullish HOT price prediction ranges from $0.00919 to $0.03919.
  • The HOT price might also reach $0.035.
  • HOT bearish market price prediction for 2021 is $0.0038.

In HOT price prediction 2021, we use statistics, price patterns, ADX, and much other information about HOT to analyze the future movement of the cryptocurrency. 

Holo (HOT) is an Ethereum token that is used to power Holo, a decentralzsed peer-to-peer hosting platform for Holochain apps (hApps). HOT tokens can be earned by users who host hApps on their personal computers.

The Holochain was created with the goal of shifting the paradigm of energy-intensive data-centric blockchains to a much more efficient agent-centric system. A truly global consensus is not maintained in the Holochain network. Rather than a global consensus, each agent in the public blockchain maintains their own private fork, which is managed and stored on the Holochain using a distributed hash table.

Current Market Status of Holo (HOT)

According to Coingecko, the price of HOT is $0.00618 with a 24-hour trading volume of $137,985,746 at the time of writing. However, HOT dropped to 3.17% in the last 24 hours.

Moreover, HOT has a circulating supply of 172,673,864,848 HOT. Currently, HOT trades in cryptocurrency exchanges such as Binance, HitBTC, Tokocrypto, Hotcoin Global and ZT. 

Holo (HOT) Price Prediction 2021

Holo (HOT) holds the 77th position on CoinGecko right now. HOT price prediction 2021 explained below with a daily time frame.

HOT/USDT Descending Triangle Pattern (Source: Tradingview)

The descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. The ascending triangle pattern is reversed in the descending triangle pattern.

As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete.

Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern is traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.

Currently, HOT is waving at $0.00618. After this, HOT may continue to fall or rise according to the direction of breakout. With this pattern, HOT might reach the resistance level at $0.0080 soon, if the trend breaks out at $0.0068. If the trend reverses, then the price of HOT may fall to $0.0038.

Holo (HOT) Support and Resistance Level

The below chart shows the support and resistance level of Holo (HOT). 

HOT/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it is observed that the following are the resistance and support level of HOT.

  • Resistance Level 1 – $0.00919
  • Resistance Level 2 – $0.0168
  • Resistance Level 3 – $0.0319
  • Support Level 1 – $0.0038
  • Support Level 2 – $0.0021

The chart depicts the bearish performance of HOT over the previous month. However, this trend will continue to reach resistance level at $0.031 soon. On the contrary, if the trend reversed then HOT might fall to $0.0038 presenting a bearish signal.

Holo (HOT) Average Directional Index (ADX)

Let us now look at HOT’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

HOT/USDT ADX (Source:TradingView)

The above chart represents the ADX of HOT with the range at 33.03, so it indicates a strong trend.

Conclusion

The HOT is one of the cryptos which is great for long-term investment. In addition, HOT price prediction will be bearish or bullish, until the breakout direction is confirmed. But, it has a good chance of reaching $0.031 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the HOT ecosystem, the performance of HOT would rise reaching $0.031 very soon. But, it might also reach $0.035 if the investors believe that HOT is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.