HOT could recover recent losses if altcoins mount a meaningful reversal, technical analyst Michael van de Poppe suggests.
Holo (HOT) is trading higher, up 7.91% in the past 24 hours to about $0.0087 at the time of writing. The asset’s market capitalization is roughly $1.57 billion.
Although CoinGecko shows the token in the red over the 14-day and 30-day windows, HOT still posts substantial year-on-year gains of approximately 1,570%. That performance follows a dramatic rally that began last December, when prices climbed from lows near $0.0006 on 31 December 2020 to an all-time high recorded on 5 April 2021.
During this week’s broader crypto sell-off, which pushed Bitcoin to lows around $30,000, HOT/USD also fell, testing lows near $0.0074. Crypto analyst and trader Michael van de Poppe, however, says HOT’s price may be positioned for a renewed advance as profit-taking eases.
Van de Poppe notes that HOT/USD appears to have completed a full retracement from its peak down to the March lows. He highlights a support band roughly between $0.0057 and $0.007 that could give bulls a base from which to push toward new resistance levels. In his view, a bullish scenario becomes more likely if the broader altcoin market begins to recover in the days and weeks ahead.
Well, this is going the way it should for $HOT.
Full retrace after a massive surge.
I’m assuming we’ll reverse quite soon on the #altcoins and then this scenario plays out.
Might be interesting to take some entries. pic.twitter.com/rqlzCrBnpM
— Michaël van de Poppe (@CryptoMichNL) May 21, 2021
Let’s review Holo’s technical picture today.
HOT/USD price outlook
Like many altcoins, Holo’s price action tends to follow Bitcoin’s market sentiment. As Bitcoin consolidates in the $30k–$40k range, altcoins often look for a fresh leg higher once that consolidation resolves.
On the daily chart, the RSI is rebounding from oversold territory while the MACD remains in bearish territory but is contracting. A decisive break above the 20-day EMA (around $0.0117) would place HOT/USD above the area van de Poppe identified as key to renewed upside.
Beyond that line, the next resistance levels lie near $0.018 and $0.020, implying roughly a 70% rally from the critical $0.011 level if those targets are reached.
Conversely, failure to overcome the descending trend line would likely renew selling pressure and could expose HOT/USD to a retest of recent lows near $0.0051.
Where to Buy Holo Today
If you are considering buying HOT, use reputable exchanges and verify trading pairs, fees, and withdrawal options before transacting. Always follow good security practices, such as enabling two-factor authentication and using secure wallets for long-term holdings.