8 days ago I did an analysis doing an analysis of the Hive price setting a target of 50 cents.
graph 8 days ago
graph now
We compare the current price with its MA midlines and compare it with 2021, setting moments to temporarily locate ourselves and looking for price targets.
Talk about the importance of midlines and how they mark a possible uptrend for Hive
Now we have passed the MA line of 200 daily periods, we go from moment 2 to moment 3 of 2021.
As we see in the 2021 graph, the 20-period Average line marks the upward trend.
The price corrects in some cases exceeding the moving line of 20 periods but continues its trend until the price reaches 1 dollar.
Where it breaks the 20-period midline after its correction, it struggles to break above the 100-period midline until it does.
The price exceeds the moving line of 100 periods and in search of the moving line of 200 periods daily chart.
At this moment the line of 20 periods crosses the line of 100 periods upwards.
At some point, the price rests on the 20-period line following its upward trend.
The price rises above the line of 200 periods daily chart.
Following the price an upward trend respecting the line of 100 periods in its corrections and with a trend marked by the moving line of 20 periods.
In this bullish cycle, the price of Hive goes from 10 cents to a maximum of 1 dollar.
When the price breaks the line of 100 periods, it would be indicating a continuation of the correction.
The price of Hive must still reach 1 dollar to say that the price is bullish in the long term and that the minimum has already passed, but Hive is getting closer to achieving it.
The price will have to correct at some point for more than the medium-term uptrend.
The good news is that the 20 period MA has risen to 40 cents.
When the rises are abrupt, so are their corrections.
As we see in 2021 at some point the price of Hive exceeds the 20-period line too, but for a few days.
The target of the correction could be 45 or 40 cents
For your vote or comment, thank you
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