A bit of bearish pressure can often go a very long way in the cryptocurrency industry. As Bitcoin begins to slip again, most of the top markets are suddenly in the red. Not entirely surprising, although it seems unlikely this momentum will last very long. Until things improve, the Holo price will remain under a fair bit of pressure.
Holo Price Keeps Dropping
It is not entirely abnormal to see altcoins struggle for traction on a Sunday afternoon. In fact, it has become such a common sight, people were almost concerned today wouldn’t offer much of the same. Lo and behold, the markets are dipping in the red again for a little while. Holo is an interesting example in this regard, albeit this market has dipped for several days in a row now.
At this time, the Holo price sits at $0.001295, or 25 Satoshi. This represents another 3.54% drop in BTC and USD value alike, and there is a 3% setback in ETH value as well. None of these trends are particularly encouraging, although they are also a continuation of a trend established earlier this week.
On social media, it is very difficult to find too much positive talk regarding Holo. That is not abnormal during the weekend either, as people have other things to do than sit on Twitter. HOLO Dude, on the other hand, is still convinced Holo and Holochain both rock regardless of what the price outlook may be. A valuable sentiment, although not too many people will feel this way at this time.
— H_O_L_O DuDe 😏 (@H_O_L_O_DuDe) April 7, 2019
Smart Investor shared a screenshot of how the Holo Telegram chat is being run these days. When a channel moderator answers with memes indicating the person asking a genuine question is worthy of a facepalm, a rather hostile tone is set. This is not just a problem affecting Holo either, as most chat groups are operated in a similar manner these days. Not a positive attitude toward potential new investors, though.
This reply is to a guy who had just joined the #Holo Telegram (Not me) & his question was totally legitimate and he gets treated like this @H_O_L_O_ #Holochain Admins in the T-gram r tired & frustrated & this is typical. How would u react to such treatment as potential investor? pic.twitter.com/nldkIK2Zoc
— Smart Investor (@AlwaysMoving__) April 7, 2019
For those who are looking for some chart action, Minexpert has Holo users covered. This Turkish trader expected the 27 Satoshi level to break either today or in the very near future. The overarching bearish pressure is clearly visible. How low the market will go, is difficult to predict, but a drop to 23 Satoshi is not as unfeasible as some may think.
#Holo 27 satoshide kanal direncini test etti ancak kıramadı ve kanalda düşüşüne geri döndü. Kanal breakout'u bizim için bir alım sinyali olacaktır ama şuanlık böyle bir şey yok. 4 numaralı destek bu breakout'u yaratabilecek en güçlü bölge olarak göze çarpıyor.#holochain #hot pic.twitter.com/eZQOIE7MEc
— minexpert (@madenuzmani) April 7, 2019
When looking at the bigger picture, it is evident some bearish pressure affects all markets right now. Holo is unfortunate in this regard, primarily because it was already on a downward slope for some time. Even so, these losses are not insurmountable by any means, thus there will undoubtedly be some sort of price action in the hours and days to come.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.