During all the madness in the cryptocurrency markets, many eyes have been on Bitcoin, but our beloved Hive has been taking some massive run ups in the last couple of days too! So let’s take a quick look at some technical analysis for the hive price.
Major pump followed by quick dump
It’s inevitable that every time Hive has a price run up, it goes almost parabolic, then has an equally as fast correction as people start taking profits. But that is expected of any asset. With the price rising $.10 in just a few hours, it is to be expected that people will be taking advantage.
Hive’s technical indicators are flashing BUY!
If you look to the right on the chart above, you will see the Tradingview indicators are showing a BUY signal for Hive at the current moment. This means that the momentum, volume, and other technicals are ripe for some upward price movements.
Hive’s price is correcting to a strong support
The price of the Hive token is falling to a solid support level and seems to be holding. As you can see on the chart in the volume profile, this is a strong level of demand as far as the price of Hive. If we can hold this level and continue the rise up over the next week or so, we will be in great shape! It will be nice for our posts to be worth something again, right? Haha.
As it gets closer to the point of control, it is time to look into maybe scooping up some Hive at these prices if you have the funds available. I will occasionally trade Hive, and have a little bit of liquid available to trade, but held on, because I see the price going back up just next time with more solid market support!
Hive is the biggest hidden gem in crypto
I have found in my nearly 5 years in the crypto industry that Hive is the biggest hidden gem in the cryptocurrency industry. We have one of the biggest and best working use cases out there but yet we are overlooked because people are afraid of true decentralization. At least that is the only reason I can come up with. They still want an Elon Musk or a Mark Zuckerberg to be in charge of their social lives instead of taking charge and ownership of their own account and data. Those of us in the know will be alright in the next bull run!
Remember, this is a marathon, not a sprint, so make sure to do your own research and be safe out there!
Nothing said is financial advice.
This is for educational and recreational purposes only!
Stay safe in these volatile markets and don’t get rekt!
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