The technical outlook for Holo token suggests that it could breakout towards April’s price levels

Holo is currently trading in green on daily, weekly, and monthly time frames. This gives the coin a positive outlook. On the daily chart, the coin is showing a bullish continuation pattern. A breakout above the resistance line could see HOT price retrace the upward trend that began in early August.

At that time, Holo prices were at $0. 006 to hit highs above $0. 012, jumping more than 100% over two weeks.

Looking at the HOT token price charts, there’s a potential breakout that might see the value of the token jump nearly 119% in the coming weeks. If the technical picture is correct, this price prediction will be realized.

Holo price analysis

The value of the Holo token is up 80% over the past 30 days, with the past year seeing a significant upside of 1,400% as seen on CoinGecko.

The technical indicators in the daily chart suggest an upward continuation. As it moves towards overbought territory, the daily RSI shows a positive divergence. The 50-day EMA has crossed above the 200-day EMA and is rising to suggest further gains. One crypto analyst recently pointed out that the EMAs could be indicating new gains for Holo.

$HOLO: I’m still in this position, super slow trade. I have my sells in place and will continue to wait. The EMAs are primed for this to move IMO, 50/200D EMA bullish cross incoming. #HOT #HOLO pic.twitter.com/KApeBmvyL0

— Altcoin Sherpa (@AltcoinSherpa) August 4, 2020

There is also the possibility of a breakout due to the bullish flag formation. If buy-side pressure increases short term, the pattern’s flag pole shows a 119% jump. This suggests that Holo’s price is on the verge of a major move by setting a price target and taking this upswing value. The key barrier to the HOT/USD pair is $0. 017 and $0. 023, with the uptrend objective set for $0.025.

HOT/USD daily chart. Source: Tradingview

While the price prediction for Holo price is for bulls to rally higher in the short term, there’s the possibility for a bearish flip once the price reaches the first supply zone around $0.017. The horizontal line marks the rejection point in late April that saw HOT/USD eventually touch lows of $0.004.

Holo will likely see a pullback at this level, before moving higher towards $0. 025 as suggested, which makes current prices a bargain.