Good Evening friends,
In my opinion Hive seems at an attractive rate and decided to perform an analysis for trading opportunity. So, I used the all famous indicator Fibonacci Retracement to bring to you a little analysis of mine. I was looking on the live chart at Binance and was trying to decide an entry in the trade. So below is my technical analysis.
Source: https://www.binance.com/en/trade/HIVE_USDT
The ratio 0.786 (0.7192 USDT) seems a good support and it may have been a good entry point and for those who already took a position on 27th Oct, 2021 are enjoying the profit already and may close the trade on the Fib level 0.618 (which is 0.90 USDT, an 18 cent profit). For new entry, we may wait for a pull back at a value of 0.72 and can again take a long position for the 1st target of 0.9 and second target of 0.5 golden ratio which is 1.03 USDT in value.
Here is trend line & support level analysis which clearly indicates that it already took a support from the meetup of trend line and support line (Both in green lines).
Source: https://www.binance.com/en/trade/HIVE_USDT
I hope HIVE will continue its trend which seems on the upside for now on the basis of my detailed analysis. MACD is also above zero level which is a good sign.
I am adding disclaimer as well at the end of my all analysis and trade predictions as I never suggest any trade to any trader and myself also taking my risks on my own. So guys your trades and your own risks as crypto trading is extremely risky and extra vigilance required with strict stop loss on every trade.
Best of Luck!
