HIVE is a good and attractive Cryptocurrency to invest on as it is doing well since a couple of weeks and investors are putting heavy volume in it. The trend was very strong last week and the bulls were clearly leading it. It has already gained 400% in value in less then a month and still has quite a bit of capability to continue its trend.
Now as our crypto favorite has crossed $2 price point and once also surpassed $3 price, it is currently having a good consolidation phase of above $2 value after a correction which is very normal for such huge value gains. Short term investors booked their profit due to which selling pressure increased temporarily and correction was made.
Now What?
Well to me this a good opportunity for the long term investors who can have it in low price and then wait for long term exponential gains which is quite likely for a crypto currency like HIVE. It can easily cross $5 as its first target and then to $10 as its second target. In my opinion it can hit $5 point till next year third quarter not to be to optimistic and emotional.
When and How to Invest?
It is a very good question that should we start investing now or wait? How much to invest? And so on...
If it were me to invest more (Already done earlier and enjoying gains), I would have maybe waited till Feb, 2022 for the trend to be confirmed and knowing that correction is due, may have waited for a better price to buy. Maybe $1.5 or even below. But I would have invested definitely in portions of my total investment to ensure to avoid missing opportunity of getting lower prices.
Let's have a look at the chart of HIVE/BTC below.
Chart taken from Binance mobile app
Chart clearly showing correction price action including the indicators MACD and RSI. I have drawn support and resistance lines and 0.00005000 is a strong resistance point, whereas, first support is 0.00003880 as per my personal analysis. I can see 0.00002872 as a good second support price value and an attractive point to buy few more coins.
Legal Disclaimer: I am not a financial advisor and never give advise to take any trade. The purpose of the analysis is for information only and you have to do your own working before taking any trade. I will not be responsible under any circumstances for any kind of loss.
Best of luck.
