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HOTUSD Price May Test and Penetrate $0.0036 Support Level – Cryptovibes.com – Daily Cryptocurrency and FX News

HOTUSD Price May Test and Penetrate $0.0036 Support Level – Cryptovibes.com – Daily Cryptocurrency and FX News


HOTUSD Price Analysis – May 22

Further increase in the bears’ momentum will make the price to break down the support level of $0.0036; below it are $0.0007 and $0.0002 support levels. Should the $0.0036 resistance level holds, the price may reverse and face the resistance level at $0.010, further increase in the bulls’ pressure may push up the price to $0.018 and $0.022.

MKR/USD Market

Key levels:

Resistance levels: $0.010, $0.018, $0.022

Support levels: $0.0036, $0.0005, $0.0002

 

HOTUSD Long-term Trend: Bearish

HOTUSD is bearish on the daily chart. The bears took over the market on April 05 when the price reached the high of $0.031price level. An evening star chart pattern formed at the just mentioned level. The price obeyed this bearish command, the price decline towards the support level of $0.0036 after it penetrates the $0.010 and $0.018 levels. The price may test and penetrate the $0.0036 level.

HOTUSD Daily chart, May 22

The fast Moving Average (9 periods) has crossed the slow Moving Average (21 periods EMA) downside and the price is trading below the two EMAs as a sign of bearish movement. Further increase in the bears’ momentum will make the price to break down the support level of $0.0036; below it are $0.0007 and $0.0002 support levels. Should the $0.0036 resistance level holds, the price may reverse and face the resistance level at $0.010, further increase in the bulls’ pressure may push up the price to $0.018 and $0.022. The relative strength index period 14 is pointing down at 20 levels to indicate a sell signal.

 HOTUSD medium-term Trend: Bearish

HOTUSD is bearish in the 4-hour chart. The price decline from the high of $0.031 to the support level of $0.010. It retraces towards the $0.018 level before it returned to the bearish trend. The price is heading towards the support level of $0.0034.

HOTUSD 4 hour chart, May 22

The currency has crossed over the 9 periods EMA and 21periods EMA downside and the later EMA is below the former EMA which indicates that the bears are in control of the market. The relative strength index period 14 is at 25 levels and the signal lines pointing down to indicate sell signal.



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