Crypto Analysis | Another Hive Pump Soon?
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We haven't seen a bigger or even a mid sized pump for quite some time
The last one was 64 days ago and took price form 49 to 67 cents and the bigger one before that 131 days ago from 51 to 97 cents. Hive does not make very big moves when there is a meso or macro downtrend. 131 days ago was the end of the impulse wave that took price from about 30 cents to almost $1. Since then price has generally declined. After the big correction last month which took price sub 30 cents price has been rather stagnant.
The time after a bigger correction normally sees price trading in an ascending channel. This has so far only led to further price corrections.
But we can also see that whenever price overcame the resistance trend lines form the previous highs, price jumped upward.
There are now several resistances converging at around 40 cents. When price breaches these resistances, we can expect a significant push upwards.
And will probably be stopped again at the strong resistance from the horizontal trend line which is at around 60 cents.
The EMAs are all above current price. This is of course very bearish; price was rejected in May by it and failed to climb above it after that. When price goes above them (especially the 200 day moving average shown in purple here) we can expect a mini or major bull market to start. This was evident in March of 2021 and August of that year.
With the macro support in place (although still not too strong) there is a good chance for Hive to tackle the aforementioned resistances. A small pump to 40 cents seems plausible; a bigger one to 60 cents is a bit more unlikely at least for the short term.
From the macro chart below we can see where things could be moving in the future:
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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Looks good
Looking for same, maybee 0,45 then down for a daily bullish divergence to form as in may. If market allows it, then 0,6, would be a nice play 😃
yep that's definitely a good possibility!
👍 Its gonna be choppy hehe
Looks good. Following the fractal idea from may, we might bounce from your 0,22, and looking for that bullish divergence now :)
this would be the best case scenario; otherwise I am turning bearish for 15 cents :/
https://peakd.com/hive-167922/@tobetada/crypto-analysis-or-4-long-term-scenarios-for-hive-until-2024
👍 Agree, if 0.22 dont hold -> 0,16 wick
Thanks for the great chart work!!
Nice chart work there
Nice analysis
The resistance line is definitely very significant in the movement of the market.
no way! 17 cents would be the bottom from the supporting trend line from previous lows. Also we are already down 93%+ While again it is possible, it is extremely unlikely :)
We'll see, I just did a whole post about it making the case for 8 cent hive.
https://peakd.com/proofofbrain/@coininstant/is-it-time-to-start-saving-up-for-single-penny-hive
It seems like 8 cent HIVE and 3 cent STEEM is a very logical path to target at this point. lol
Hive is at a much different place than it was in 2020 when we last had 9 cents. I wouldn't even compare it to be honest. We now have a much more evolved dapp environment and one of the most advanced chains out there. 8 cents would also mean that BTC would drop to like 8k? In my last post about BTC I pointed out that the volume is off the charts so to speak. There are simply too many people buying btc for it to go to those levels. But I do see the h&s pattern, so there's a potential of course for lower price... One request: if you use my charts in your post, could you at least tag me?
Sure I will tag you and reference any time I use your charts, even if I draw on them. True HIVE is in a far better place, but the world is in a worse place, and the world trumps hive dapps, so all these macroeconomic factors, paired with the dramatic head n' shoulders price pattern, penny hive still isn't out of the question. I don't even think 8k, I am in the 4300 BTC camp if HIVE were to drop to 8 cents.
I think there is a big potential for the next bull market to be about privacy and freedom: https://peakd.com/hive-167922/@tobetada/the-next-bull-market-will-be-about-privacy-and-freedom
If people see the potential, crypto will thrive with a crumbling legacy economy
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voted!
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Dear @tobetada,
Your support for the current HiveBuzz proposal (#199) is much appreciated but the proposal will expire soon!
May we ask you to review and support the new proposal so our team can continue its work?
You can support the new proposal (#248) on Peakd, Ecency, Hive.blog or using HiveSigner.
Thank you!
A great analysis. If Hive gets a pump, can earn money !
i really want to see hive at the range of 0.50$ again!! it will be really nice for our bloggin rewards
definitely going to come again, the question is just when