Hive take a heavy beating today

Look like today hive taking a heavy beating. Let's see what the chart say.

Technical Analysis of HIVE/USDT

1. Current Price & Recent Movement:

   • Price is $0.2877, down 9.13% in the last 24 hours.
   • The current price is close to the 24h low of $0.2863 and far from the recent high of $0.3180.
   • This suggests bearish momentum as the price nears its daily support.

2. Exponential Moving Averages (EMA):

   • EMA(7): $0.3133 (Yellow) → Price is below the 7-day EMA, indicating short-term bearishness.
   • EMA(25): $0.3069 (Pink) → Price is also below the 25-day EMA, signaling mid-term weakness.
   • EMA(99): $0.2505 (Purple) → Price is still above the 99-day EMA, suggesting a possible long-term support level around $0.25.

3. Volume:

   • Trading volume has dropped significantly after the previous spike.
   • The large green volume bar during the upward move near $0.4550 indicates heavy buying, followed by selling pressure causing the decline.

4. RSI (Relative Strength Index):

   • The RSI is 33.08, which is close to the oversold region (<30).
   • This implies that sellers dominate, but the asset may be approaching oversold conditions, potentially leading to a reversal.

5. Support and Resistance Levels:

   • Immediate Support: Around $0.2711 (previous low).
   • Major Support: Near $0.2500 (close to the EMA(99)).
   • Resistance Levels: $0.3133 (EMA(7)) and $0.3069 (EMA(25)) act as near-term resistance.

Conclusion:

HIVE/USDT is currently in a short-term bearish trend. Price is below key EMAs, and RSI shows sellers dominate but oversold conditions are close. Watch for a reversal near $0.27-$0.25 support levels or further confirmation of the downtrend if volume increases.
Sound like time to buy some hive since it is in oversold condition.