Good day Hiveians!
Join me in analyzing the crypto markets!
I normally don't post so frequently about one coin, but the market currently is really interesting in regards to Hive
I just wanted to share what I have been seeing for some time and what apparently is just getting confirmed once again. You can read up on my posts regarding this development here: "Does Hive Have Enough Power To Push Up?" and here The Hive/BTC Potential as well in my last post "Hive Holding The Line - And General Remarks"
Hive does it's thing. It has often outperformed (and of course under performed) the entire crypto market quite frequently. It does this when there are no immediate resistances. It's always cool to see Hive being in green while pretty much everything else is red! This is no small feat and not many coins can do this.
So why is it happening? To put it simply, the chart is screaming for it: there are no strong resistances since Hive broke out of the downward trend line. This is something that happened precisely before in August of last year. Have a look here:
Once the major resistance was broken (downward trend line), Hive broke up to higher highs. However, it didn't do that in one big push. Instead, there are many smaller ones. YOu can see them in the next chart:
There are many "pump and dumps" along the way. The important thing is that prices on average stay higher.
Now that we above the key support of ~70-8ß cents, prices can push higher once more. In other words, we are in the next impulse wave.
This is also evident in the Hive/BTC chart. Have a look at the post above for more detail. But basically Hive is now breaking out of the resistance here as well. The potential for Hive in this regard is massive.
There are two targets I gave before. One conservative at around 0.0001 and one 10x higher.
Essentially, we now seem to be on the purple path, although the path of course could alter from it significantly. Nevertheless, Hive seems to be set for higher highs in the coming months with everything still on track for a summer 2022 climax.
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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