Hive is presently trading at $0.56 presently and it seems that the pump which happened yesterday have stopped.. the pump made hive price to jump up from $0.49 to $0.66 which is even more than 30% jump in price..
I do not know if there will be another massive pump again but looking at the chart , the indicators are indicating green signals to me , the Parabolic SAR is now below the closing price of HIVE and that is a bullish signal , if parabolic SAR indicator displays below the last closing price , it is a bullish signal, if the parabolic SAR indicator displays above the current highest price then that would be a bearish signal....
The present closing price is above the parabolic SAR indicator and that is a bullish signal ,and there is presently a strong support at $0.4889 , so if the market turns around and wants to go bearish, I will be watching out for that price support to see if the bears can break it or if the support will still stand strong..
On the daily time-frame, it is a bullish signal, but lets look at the weekly time-frame to see a clearer picture of what to expect in the next coming days ..
Looking at the weekly chart , it is showing that we have one day and fifteen hours for the weekly candle to close , the indicator is giving a strong sell signal on the weekly time-frame of the market..
So how can we interprete this?? Well on the daily time-frame the market is bullish but the bulls cannot hold it for long because the bears are still strong on the bigger time-frame...
So those who trade spots , they might need to wait for the current week candle to close and if the indicators still show bearish signals, then the person should not buy...But if the indicators show buy signals after the new week candle opens in the next 40 hours , then it might be time to start buying as the bulls might want to take over majorly this time around..DYOR..
