Key Takeaways:
- Those zany Koreans are once again pumping HIVE.
- The move continues the higher time frame bullish trend.
- Happy days for those who loaded up sub 20c.
Hive Technical Analysis
Analysing HIVE on Hive... How very meta.
But with the majority of us here having a vested interest in this very platform's native token, it's always worth a look when we get these pumps.
Bring up a daily chart and let's have a look at what's going on.
HIVE/USD Daily:
Pamp it.
While you can't miss today's massive green daily candle in comparison to all the others, take a look at where price retracted to before bouncing.
Right off resistance after the very first Hive pump this bull run.
Literally to the pip.
But while I wish I could write about how this move was purely driven by decentralised buying off the back of beautiful technicals, this is HIVE we're talking about...
And HIVE hodlers like us can't have nice things.
Hive crypto is going up because the Koreans are pumping it
Take a closer look at the volumes being traded across the different established exchanges.
1, 2 and 3 being Binance and Huobi all seems pretty normal.
Then you scroll down a bit and come to...
26 being Upbit - One of Korea's largest crypto exchanges.
(Did you sickos like how I mentioned 3 exchanges without putting affiliate links under them?)
Upbit's HIVE/KRW trading pair has so far done a monstrous $370 mill in volume.
Lol.
Just lol.
Maybe one day the market will discover our fast and scalable chain.
The best blockchain for web 3.0.
But today is not that day.
Just another Korean pump and dump.
Best of probabilities to you.
Data to Watch:
- Not applicable on decentralised cryptocurrency markets.
Direct from the desk of Dane Williams.
Why not leave a comment and share a chart of your own in the comments section below? All comments that add something to the discussion will be upvoted.
This daily market analysis blog is exclusive to leofinance.io.