Hello everyone, today I'll share my thoughts on several coin trends.
These types of articles are expected to be updated weekly, usually Sunday.
Let's get started!
View of the entire market
Let me talk about my views on the entire market first.
After the outbreak of the Ukraine-Russia war on 2/24, all currencies fell quickly, but recently there is a trend of rising again, which will depend on whether people in the market see cryptocurrencies as a safe-haven tool. If it also acts as a safe-haven like gold, an uptrend will follow.
Since currency prices will be strongly affected by the broader market these days, I only analyzed two coins this time. I think follow-through trends should be observed before deciding on the next strategy.
BTC Analysis
BTC fell sharply on 2/24, the lowest point was $34322, and the last support was $38372, which may indicate that there is a strong support here, and it has maintained an upward trend these days, but it is still necessary to pay attention to whether there is any downtrend, because of the instability of the broader market, there is no guarantee that a downtrend will not occur.
HIVE Analysis
HIVE briefly touched a low of $0.7 on 2/24, and as the market has rallied in recent days, HIVE has also risen, trending closer to $1. I believe that people who buy below $1 will be very happy, but due to the unstable market conditions, it is not recommended to buy at this price close to $1, because there is a great possibility of falling and there is not much room for upside, so patience is the best Strategy.
The above is for sharing, not investment advice, please be cautious when investing
You can also share your opinion in the comments
Thanks for reading, see you next time.