#hot #bullish #MuskXPayments #ETHPriceSurge #ADAHits1USDT Technical Analysis of HOT/USDT
The HOT/USDT pair is currently trading at 0.002834, up 19.58% in the last 24 hours. The price action shows bullish momentum with potential for further gains.
Support and Resistance:
Support: The immediate support level is around 0.002286, the recent low. Further support can be seen at the 25-day moving average (MA), currently at 0.002476, and the 99-day MA, at 0.002244.
Resistance: The initial resistance level is at the 24-hour high of 0.002850. Stronger resistance can be found at the 17.4776% and 15.6734% Fib levels.
Moving Averages:
7-day MA: The 7-day moving average is currently at 0.002512, providing a strong support for the price action.
25-day MA:Â The 25-day moving average is acting as a support level, indicating a bullish trend.
99-day MA:Â The 99-day moving average is still below the current price, suggesting a longer-term bullish trend.
Volume:
The trading volume is relatively high, indicating strong interest in the HOT/USDT pair.
Conclusion:
The overall technical indicators suggest a bullish bias for HOT/USDT. The price is currently testing resistance levels but could break through if bullish momentum continues. The high volume and positive moving averages signal strong support for the price.
Famous Analyst's Perspective:
Peter Brandt, a well-known technical analyst, often uses moving averages and volume to identify market trends. He would likely see the current price action as a bullish breakout.
Arthur Hayes, the former CEO of BitMEX, is known for his bold calls. He might interpret the current price movement as a potential for a larger upward trend.
Disclaimer:Â This is not financial advice. Always conduct your own research before making any investment decisions.