Hello, dear members of LeoFinance!
Today I want to highlight another interesting technical pattern in the price chart of our beloved cryptocurrency HIVE. Just to remind you three days ago I outlined a potential trend reversal technical pattern Cup and Handle (C&H) in the 4-hour chart of HIVE.
So, now, I want to point out that HIVE/USD has already made an attempt to exit (breakout) the Descending channel (downtrend) in the 4-hour chart:
However, the attempt was unsuccessful, and now the price chart has returned to the upper line of the downtrend again.
In my view, in the near future, if the price chart of HIVE bounces off the upper line of the Descending channel (like the blue arrow shows in the chart), then it may turn out to be the end of the downtrend.
To be continued ...
As of the time of writing, HIVE/USDT is at the level of $0.1227 on Binance, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 14+ years, and as a cryptocurrency analyst for the last 3+ years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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