Good day Hiveians!
Join me in analyzing the crypto markets!
My last post about Hive went into the analysis of its pattern which indicated a possible low of 10-12 cents. I think we are still on a course for that target as its price action has underperfromed in recent weeks, especially since there hasn't been a corresponding uptick with bitcoin.
This is the chart from several weeks back:
Notice the orange ovals: they indicate the current fractal of Hive. So far price action has been quite on par with the general outlook given back then. But this fractal also indicates another low which should be at around 11 cents. This is the updated chart:
I am as confident as I can be that this will be the "ultimate" low for Hive, meaning that price should recover similarly as seen in the second larger oval in the first chart. Strong upticks in price are currently established within the Hive fractal, so we could also see the price close to 20 cents rather sooner than later.
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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