Just a quick update on HIVE price today. The price action is steadily making a recovery but needs a lot more upside for further continuation.
I want to see it break above 0.1690 as stated in my previous post. As long as BTC continues moving up steadily or ranges sideways we can expect many cryptos including HIVE price to steadily recover from the recent lows.
However, this is something to think about: HIVE price recovered to make a high of 12.6% from its lows vs top hyped up coins in DeFi such as YFI made a 60% recovery from the lows and some 45% for UNI.
Lack of hype around HIVE is clear compared to what we're seeing with many coins in the top 100 today. Hence, small caps including HIVE will take longer to recover. Also, some exchange wallets may still be down.
Overall, i'm not too pleased about the % bounce from the lows. 20-25% would've been fantastic on the first day but this is within my expectation so far. Let's see how it goes from here.
You can read my previous update on HIVE price here
This post is not financial advice.