*Here's Another Oldschool HIDDENGEM*
$HOT - unique chain platform oldie but goodie! another good token to surf during bullseason :)
Analyzing the chart for HOT/USDT, here are some observations and potential patterns:
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Chart Analysis:
Current Trend:
The price shows a downtrend, but there appears to be a potential bottom formation around 0.002034 followed by some consolidation.
Recent Candlesticks:
The last few candles indicate small-bodied green and red candles with relatively lower wicks, suggesting consolidation or reduced selling pressure.
This looks like the market is attempting to stabilize after the recent drop.
Volume Observation:
There was a significant reduction in trading volume during the consolidation phase.
Slight uptick in volume at the most recent candles could signal buyer re-entry or interest picking up.
Potential Candlestick Patterns:
Bullish Harami?: There seems to be a smaller green candle "within" a prior bearish candle. This pattern could signal a potential bullish reversal.
Support Level Established: Around 0.002034, a bounce indicates this level holds strong as a possible support.
Resistance Levels:
Immediate resistance lies around 0.002683, where previous upward momentum struggled.
Stronger resistance at 0.003436, based on previous highs.
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Technical View:
Scenario 1 (Bullish):
If the price breaks above 0.002683 with increased volume, it could indicate an upward move targeting 0.003436.
Scenario 2 (Bearish):
If the price drops below the support at 0.002034, it could lead to further declines toward 0.001931 or lower.
