Is Holo (HOT) buy opportunity after the current dip?

HOT/USD  has weakened from $0.016 below $0.006 since November 4, and the current price stands at $0.0075.

The cryptocurrency market remains under pressure this Wednesday, Bitcoin is trading below $48000, but according to an analyst from Bloomberg, 2022 will be a successful year for the cryptocurrency market.

Efficient hosting ecosystem

Holochain is an open-source framework that encourages the creation of applications, and it provides tools to enforce data integrity and business rules.

Holochain is built with the Rust programming language, while its peer-to-peer technology supports applications that connect artists directly to their supporters.

Holochain has technological similarities with other blockchains, and more than a thousand developers are using Holochain to solve real-world problems.

Holo is a bridge that connects Holochain with everyday users and lets regular web users reach Holochain P2P apps through the distributed cloud-hosting network. The team of Holo added:

Holo platform allows you to turn your personal computer into a source of revenue and get paid for hosting distributed applications.

Holo is powered by HoloFuel, the internal micro currency which is capable of billions of daily microtransactions.

Despite the fact that HoloFuel powers the Holo hosting network, Holo offered a pre-sale of cloud-hosting services in the form of HOT.

HoloToken (HOT) is an ERC-20 token that will be convertible to HoloFuel at a rate of 1:1 during the swap period.

HOT token has achieved an impressive gain in the first days of November 2021, and it has reached a record high above $0.016 on November 4.

HOT is currently down more than 50% from its peak, but according to Mike McGlone, Senior Commodity Strategist at Bloomberg, 2022 will be a successful year for the cryptocurrency market.

Holochain and Holo are very promising projects, and the price of HOT could advance again at levels that we saw in November 2021.

$0.010 represents important resistance

Holo (HOT) has collapsed from its record high above $0.016, registered on November 04, and according to technical analysis, this crypto remains in a bear market.

Despite this, the current price represents a good entry point for long-term investors. If the price jumps again above $0.010 resistance, the next price target could be around $0.012 or even above.

Summary

Holo (HOT) has collapsed from its record high above $0.016, registered on November 04, and the current price represents a good entry point for long-term investors. If the price jumps again above $0.010 resistance, the next price target could be around $0.012 or even above.