Hello everyone,
How are you all? I hope you are all fine and doing great in their life.
The entire Crypto Market has once again shifted towards the positive side as bitcoin broke its All time high and is currently trading at 118k USD. With Bitcoin even Alts and Ethereum have made some decent movement and that is why the talks for the most awaited Alt season has started again.
In this post we will particularly look at the trendlines for hive and understand when the Alt season or big pump come for our favorite token, Hive. Have a look at the screenshot below where I have drawn all the trendlines and this is the fourth or fifth time that I am sharing this chart with all of you.
We will have to zoom that chart so that we can understand it clearly. We don't have to see it completely. I will zoom in and share the resistance below which we are trading at this moment. Our first step will be to see hive token breaking that resistance trendline and come out of the lowest zone for itself.
You can see that we are trading below the last resistance trendline and we have been trading below this trendline last year as well when the entire crypto market was down. We broke it and then again broke the second resistance trendline after which hive reached the max value in last 2 years.
We were close to 70 cents and then we could not break the diagonal resistance as you can see in the screenshot above and so we travelled back towards the downside and confirmed a bottom and also the dip for this cycle at 17 cents. Now we are again testing that resistance trendline.
Above you can see it more clearly. Today we broke that resistance but once again came below it. It was not a strong move but that is what we all need at this moment for hive to perform similar to its legendary run in the last bull cycle. I think we will be breaking that resistance very soon.
After that the next target will be the 30 cent resistance which is another strong resistance trendline for hive. You can refer to the very first screenshot to understand how strong that resistance line really is. The breakout of that resistance trendline will bring massive pump in hive.
We have seen hive pumping by 50-100% easily every time it breaks that resistance.
After that our target will be the 68-70 cents resistance which hive failed to break last time. If we are able to break it this time we are going to have to three more resistance for hive to reach where it was in the last bull cycle and you can see them in the screenshot above.
I don't know what will happen in future but I really hope that hive will break all those resistances and create a new all time high for this crypto cycle. Only time will tell if we are gonna make it till new all time high for hive or not but at least we can hope for the best and wait for it to happen.
Thank You and make sure to check Crypto Company services as I recently shared in my blog. You can simply click on the picture below and it will take you to their official website.
