HIVE had huge pump up to $3.40 just under two weeks ago. As usual with such a huge pump, there was a downtrend but it quickly saw another resurgence to make a twin peak. But since then it's been a pretty steady progression downward.
As you can see, it's almost a straight linear decline for the past week, except for the sharp decline that pretty much all of crypto saw on December 3.
As with all the other crypto, the snap flash crash saw quick buying up period. But then that pretty straight linear decline downtrend continued for hive. Until today.
It seems there is a rebound that also coincides with the coin starting a rebound up to $50,000. It does look like hive is going to start going back up since that double bottoming around a $1.40.
The question is, is he going to be sustained, or will the selling down pressure continued? Clearly there are many people who have hive and want to sell it as the past week has shown. But I think they might be holding back to continue their downward pressure and selling off.
It's smart to wait for another pump. But you also have to wonder if it's going to happen, at least in the short term. No doubt it will eventually pump again, but how long will it take for that to happen and who's going to make it happen?
I think we have to wait around for some more Koreans with a lot of money to dump some money into HIVE and make it pump again. Until that happens, there might be a slow and steady increase or sideways action.
I do wonder though, where do the dumpers/sellers see the bottom? How much are they willing to keep selling to push HIVE down?
