Aberdeen-born Holden has also been linked with Blackburn but Coyle could make the 24-year-old his first signing.
Coyle said: "Stuart has come in and trained well with us. It (his situation) is something we will look at in the next few days.
"We have a good group of players but we are looking to improve the squad we have. That's an ongoing process.
"He's obviously got talent, good technique and quick feet. We just have to make that judgment about whether he is better than what we have already got. "