Is HIVE finding support today at about 0.24 USD? It has bounced nicely on good volume to 0.27 at time of writing, the first move up since the spike to $1 and resulting retracement.
That chart shows about a week of price action. Today's move recovers the losses of the past couple days, but may set in motion a trend reversal that sees a good upswing.
People are waiting for the right time to buy, and if they see the price hit a bottom and bounce up, they may pull the trigger. Lots of STEEM and USD is waiting to pour into the HIVE market at the right time.
That one shows the whole upmove due to the exchange promotion, and the slow grind back down. Every dip has resulted in buyers scooping it up, and every spike has caused sellers to take profits.
Even Bitcoin and other cryptos taking off hasn't done anything to change the HIVE price. The driving force is the group who bought HIVE for the promotion, and are now selling it off as they decide not to remain in the market. The other side are smaller buyers like me, picking up cheap HIVE as it becomes available, preventing an all-out crash. The result is a tug-of-war that is slowly grinding down the price toward a point, at which most HIVE has been transferred into strong hands.
A lot of momentum has built up and a large move is coming.
Hive is alive! : D
Bitcoin bonus
In the minutes before this post was finalized, Bitcoin took a sudden massive move up. NOTE: Bitcoin's move came several hours AFTER the move in HIVE.
Here it is, shown on the 6h chart:
Soon we'll see if this jump spurs the broader crypto market into full-on bullish mode! And if BTC goes toward 11k, it's off to the races to 20k - and beyond.
DRutter