Long
Analysis and Bullish Case - Strong Buy on HOLO
Updated
This is one of my favourite Altcoins and it's just approaching a no-brainer strong buy area.
HOLO survived last year's Crypto Winter showing a lot of relative strength against the ALT market, last month it broke out its main resistance near $0.0015 and rallied to $0.0027 as an immediate reaction. In the last few weeks it's still correcting the recent rally in what I see as a normal consolidating movement, it may look as a bit of intense correction, but given the overall strength of it's pattern it's just normal to re-visit the breakout area (which is now a strong support level), and this big movements just anticipate the intensity of what's coming next.
Using the semi-log scale and a classical technical analysis approach for speculative moves, the projected target for last month's breakout is around $0.0050, and the beauty of it is that it's still in-play even after this huge correction.
HOLO survived last year's Crypto Winter showing a lot of relative strength against the ALT market, last month it broke out its main resistance near $0.0015 and rallied to $0.0027 as an immediate reaction. In the last few weeks it's still correcting the recent rally in what I see as a normal consolidating movement, it may look as a bit of intense correction, but given the overall strength of it's pattern it's just normal to re-visit the breakout area (which is now a strong support level), and this big movements just anticipate the intensity of what's coming next.
Using the semi-log scale and a classical technical analysis approach for speculative moves, the projected target for last month's breakout is around $0.0050, and the beauty of it is that it's still in-play even after this huge correction.
Note
Strategy:- With HOLO near it's support at $0.0015, I believe it's a Strong Buy opportunity anywhere near the support (little risk vs huge potential in-play). The current price level already offers a strong risk/reward ratio for anyone with FOMO.
- In the event of an eminent upside reaction, $0.0027/$0.0028 will be the only resistance between the current price zone and the main target at $0.0050, but that will require a further update.
- The current pattern remains active while HOLO remains above of $0.00125
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