Hello everyone,
How are you all? I hope everyone is fine and doing great in their life.
In this blog let us discuss about the upcoming market movement for hive token. A lot of people might already be thinking that hive will not make its run this time and we are going go to stay below 40-50 cents value. I will discuss my opinion based on what the charts are saying and talking of charts, have a look at our chart prepared which I have used in my recent analysis as well.
I am not here to predict the all time high for hive but only share the possible scenario for it which obviously is not a compulsion so please do not see this blog as a financial advise at any cost. You are free to leave your views as I welcome them always no matter what.
Let us have a more clearer look at the chart of hive for 1D timeframe by removing few trendlines and keeping on two of them as that is what matter to at this moment. Have a look at the screenshot below and remember that the lowest trendline was resistance for hive for 1 month of time.
We have travelled below that resistance for 30 days and after that we gave a breakout. We have sustained above that resistance for almost 11 days now which is a good sign for the price of Hive token. The last time it was able to do this it took 3 weeks to test the upper resistance trendline.
In the screenshot below we can see that hive has confirmed support and now trading successfully above it.
We are already going for the 30 cent resistance and I don't think we are going to fall below that first support unless and until it is a total crypto market crash for a very big bad news. Small corrections may come but that support should where the hive will return for now based on my technical analysis.
Once we broke the 30 cents resistance Hive will go for values which we witnessed last year in the month of December. SO, 68-69 cents will be the toughest resistance for hive to break as their is a selling pressure there for sure. If we are able to break and pass that value weak resistances are there in the way for hive to reach above $1.
I personally think that $3 or more is quite difficult if we go by the technical analysis but Alt season can trigger that up by bringing continuous massive volume not only in hive but any other token in the market. Keep an eye and I hope the best thing will happen with hive.
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.
