Is Holo ready for another run??
Updated
After a huge rise, Holo has released some presure over the last 2 weeks.
- Have seen price retrace back to the 0.618 fibs
- Break down through all ema's (besides 200) on the 4 hour chart
- Bearish divergance and also a smaller bullish divergance.
What I am looking at now
- Inverse Head and Shoulder's formed on the 4 hour chart - does it break above the red line or fail?
- current red candle is above all ema's and could be building some support here.
- overall target is the -0.382, lines up perfectly with measured move of last run.
Need price to break above the red resistance - lot of wicks everywhere, so want to be clear of those.
Needs to prove itself with some strength in the push.
- Have seen price retrace back to the 0.618 fibs
- Break down through all ema's (besides 200) on the 4 hour chart
- Bearish divergance and also a smaller bullish divergance.
What I am looking at now
- Inverse Head and Shoulder's formed on the 4 hour chart - does it break above the red line or fail?
- current red candle is above all ema's and could be building some support here.
- overall target is the -0.382, lines up perfectly with measured move of last run.
Need price to break above the red resistance - lot of wicks everywhere, so want to be clear of those.
Needs to prove itself with some strength in the push.
Note
Holo made an attempt to break through but had a strong rejection.
10% candle on the 4 hour (1hour roughly to go)
Lot of resistance in this area still; many orders to fill before we break though.
Note
Doesn't look like it will play out for the time being, looks weak like many alts atm.The close was important and it just didn't make it.
See what happens in the new week.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.