Hello everyone,
How are you all? I hope everyone is fine and doing great in their life.
In this blog we are going to do the technical analysis for hive token. The last time we witnessed bull run, all time high for hive token was at 3+ dollars but we are currently 90% down from that value. The token is trading at 0.26 dollars at the time of writing this blog. Let us look at the chart below and understand how hive might perform in coming months.
The chart you see above is the overall analyzed chart created by me after finishing my analysis but I am still sharing it at the beginning and then we will continue with the analysis one by one. Before we move further I want to clear that these are the analysis based on my little knowledge about the technical analysis and one must do their own research before taking their investment decisions.
The resistance line seen in the screenshot above is the same resistance line from the first screenshot and this is the only trendline we are looking at this moment. This resistance line was broken in January 2022. After that it almost took 3 years of time to break that resistance in December 2024. Hive pumped 114% after breaking this resistance and that is why this resistance can be considered important in my opinion.
Hive has traded below this line for three years but still after breaking this we did not see the same level of gains as we saw back in last bull run where the coin reached 3+ dollars. Hence, we are going to create two more lines where one of them is the support and the other is resistance for hive token. You can have a look at them in the screenshot below.
Now both these lines are very very important for hive token. This is because hive has not broken this resistance for more than three years of time and that is why it becomes an important resistance for hive, also the last time it was broken was the time when hive surged as high as 3.4 dollars so maybe we can also say that this is the resistance line above which hive will enter it's bull run trajectory.
Let us talk about the resistance line now and for that I will share a more zoomed in photo with all of you.
This support was broken back in June 2024 and after that hive confirmed the bottom value for this cycle near 15 cents and we saw the price struggling below this support line until December 2024 after which this support was broken and hive touched the resistance line which we just discussed above. Obviously hive struggled and failed to broke that resistance as we can see in the screenshot above.
Now in the screenshot above you can see that hive has confirmed support on that diagonal resistance line which was discussed in the beginning of this blog. So this is a big relief in my opinion for hive token and hence once that straight support line which currently acting as a resistance is broken by hive we can witness a rally in the price.
But do not mistake it for being a rally that will set a new all time high or even not a rally that will take it closer to previous all time high. For that we must break the straight resistance line which hive failed to broke back in January 2025. Once that resistance is broken hive should actually make some good move as maybe then we can see a new all time high as well.
So if you have your money invested in hive token, these are the charts you have to look at. I am not sharing the chart but once that resistance is broken hive also have a resistance close to 1.21 dollars so maybe hive can retrace from that point as well. We should not forget that the market has got matured over the period of last few years and a similar pump like previous run is not necessary.
Make your targets accordingly and keep booking profit in portions so you do not have to regret later for missing the peak of this season. That is where I will stop writing but the comment section is always open for everyone. You can head there and share your analysis and opinions with me and I will happily read and like to interact with everyone.
Let's conclude and end now, hive is still giving us hopes as the diagonal resistance line was confirmed as support. If we are now able to break the straight support line we should be good to go further. Stay safe and trade only after doing your own research.
Thank You