According to experts, the Cryptocurrency market is at a deflection point now. They believe that the trend that is set from now on will continue for quite some time. So are some of the currencies, such as Holo(HOT), BitTorrent(BTT), Polkadot(DOT). If the currencies sustain the confidence of investors, then the crypto world is going to flourish.
This article provides a summary of price analysis of digital currencies such as HOT, BTT and DOT. The year by far has been the best of Alt Seasons, and forecasts are that it is going to be the same for at least some time.
Holochain(HOT) Price Analysis
HOLO(HOT) or Holochain is a currency that has delivered multibagger returns. From $0.000709 in January 2021 to hitting ATH of $0.0281 on April 3, 2021, it has grown exponentially.
HOT Price rose a staggering 43.42% in the last 24 hours. With LTP of $0.026, the Market capitalization of HOT is $4,396,237,721. The last 24-hour transactions worth $2,550,240,387 were carried out, with 266.85% increase. HOT currently has 169,164,199,065 HOT in circulation.
The price of HOT has gone through strong accumulation during its consolidation phase, hence building great support. The major supports are $0.0231 and $0.019. But volatility was observed after prices hitting ATH, which can be suspected as FOMO to book profits.
Nevertheless, the price of HOT seems to be holding fine below its ATH. There is also a good chance that ATH acts as a Resistance level. Bollinger bands are being tested as the price is fluctuating heavily between the upper and lower Bollinger bands.
Support: $0.0231 and $0.019
BitTorrent (BTT) Price Analysis
The BitTorrent token(BTT) price has been volatile since March and looks like BTT is all set to carry the bullish momentum into April. Since then, it has continuously maintained its bull levels. The BTT price rocketed to $0.007825, with a >30% increase. It is also the ATH level of the currency.
The 30 minutes chart monthly chart shows that a sell-off session concluded. It appears that the HODLers want to continue HODLing the BTT. This will lead to a further jump in the prices.
The support levels may get formed at $0.007 and $0.0064 if the profit booking prevails. It should not impact the price much as the crypto markets are extremely bullish in general.
While penning this article, BTT was trading at $0.007334, just short of the ATH levels with a 28.91% jump from the last 24 hours. The likely resistance level is going to be $0.00782. With this rise, BTT boasts a market capitalization of $7,323,106,924 with the current supply of 989,980,422,741 BTT. The trades of the last 24 hours exceeded $5,142,658,128 in value with an increase of 82.78%.
The RSI level at present is 62. MACD also suggests bullish momentum with the rise. This consolidation will be a clear indication that if the currency sustains over $0.0066 levels for the next week, an upside momentum will follow.
The Fibonacci charts indicate the prices consolidating at 0.786. Hence it will serve as a buy level for investors. It will also be interesting how the investors react to this rise, as many of the long time investors may start booking profits.
Support: $0.007 and $0.0064
Polkadot(DOT) Price Analysis
Polkadot has broken its previous ATH and has hit a new ATH of $46.85 on April 3, 2021. This event occurred after the announcement of Enjin raising $19 Million to build Polkadot-based NFT Blockchain.
At the time of this analysis, the price was pivoting near the $45.13 mark with an 18.47% jump in 24 hours. DOT boasts a market capital of $41.63 Billion and the sudden increase in the volume of Polkadot of above 72.62% in trading volumes, with the value reaching $4.529 in just the last 24 hours.
With increased trading volumes, it is almost certain that prices will hit the $50 mark if there is no additional bear pressure. 925,513,687 DOT are in circulation, out of 1,061,548,023 DOT, indicating that the markets are more active than ever.
MACD levels indicate bullishness along with the parabolic SAR. RSI levels are closing 55 indicating a good overhead for price action. The prices are holding up above the upper levels of the Bollinger band, if they sustain at the same levels for a couple more trading sessions and no selling pressure, there will be a buying spree.
Also, there is a chance for breakdown to take support at the ascending line in case the breakout does not hold above the resistance levels.
Resistance levels: $46.7, $50
Support Levels: $44, $40