The 24h volume for HIVE is 795,000 (hive) and 24h volume in term of USDT is around 276000. This amount is very least which indicates that there is less volatility in this coin. HIVE needs a good volume for breakout and to confirm the upward position.

The 24h high price of #HIVE is $0.3515 and the 24h low is 0.3439 which is around 2% difference from high to low. These figures are taken from Binance and at the time of writing. In this post I am going to discuss about possible price move according to daily chart.

I have more trades and analysis based on daily chart this is because swing trades are even more confirm and the predictions comes true for long term time frames.

According to 1D chart, HIVE is almost at oversold position. The recent candle is at the lower band of bollinger and the RSI indicates the number of 36. According to these two indicators #hive is indicating for the upward direction.

Keep in mind when connecting these two indicators it must be clear that both the indicators give buy and sell signal for more confirmation. If Bollinger band indicates buy signal whereas RSI still not indicating then its better to wait.

At the current scenario, Bollinger band is giving buy signal but looking to RSI there is no buy signal yet. What do to in this scenario? Its better to avoid taking any position until the position is not clear.

Yet there is still chance that the price rebound from this level because our one indicator is giving long signal. So, to not miss the opportunity its better to buy one layer of your amount and hold for the next candle.

Using Bollinger and RSI to Gauge Price Trends

If you see to the daily chart we have 3-4 times rejection from the resistance point that is $0.39. Which means this is the resistance which needs heavy volume for the breakout and some good news.

Also we have a strong support at this point i.e $0.345. This is the strongest support according daily chart and we have 3-4 times seen good rebound from this point.

Most likely if we break this support line then there is more chance to see another low price of $0.318 which is another support and another strong support.

Similarly, if we breakout the resistance point then there is probably we see another high of $0.43 which is the weak resistance . Which means that another target is $0.49-$0.5 which is an easy target.

So according to the daily time frame hive price is giving buy signal and there is more chance to retest the resistance level. This is my analysis and not trade advice. Do your own research before taking any trade.

What do you think about price movement? Is the direction towards upward or downward? Do you think bollinger and RSI indicators are the best for price indications? Will be glad to see your answers in the comment below.

I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.

CHART IMAGES TAKEN FROM BINANCE

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