Good day Hiveians!
Join me in analyzing the crypto markets!
Hive is already up 46% since the "big crash"
As such Hive is on an upward track to higher highs.
As is visible from the chart Hive is trading in an upward channel for the last ~2 years with an average price increase of about 3 cents/month or about 10%/month. This is a remarkable statistic! On average this means that one got about 120% APR for holding Hive. This is not even counting in the curation and potential author rewards one can have. To be back at this average price increase Hive has to be back at ~$1.2 which is not very far from current price levels. This means we are right on track on the macro scale.
I have proposed that Hive will be trading in a diverging upwards channel as seen in the next graph. Currently we are also here in the middle of that channel.
Let's take a closer look... Just 10 days ago I speculated that Hive could be trading something like this:
Which turned out to be a pretty accurate prediction. It is based on Hive's past fractals and is worth studying more closely. We also see another detail up close. In July of 2021 we had a similar start after a big crash which can be seen on the left side. Compare this with the right side: we have an upward parallel channel which was broken to the downside. Something similar could happen again. If so, prices could be back at around $0.9 briefly before recovering.
On the bigger scope of things, Hive is on track to $5-$10 which would linearly look something like this:
I still believe that the summer of 2022 could be when markets peak. As Hive can have crazy impulse waves it could also peak higher than this target, perhaps to around $10, but I wouldn't count on it.
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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