The weekly chart is looking promising, only a few hours left to the weekly candle close, so if nothing drastic happens in the broader markets then we may close with a nice green hammer reversal candle. This candle signals the potential and is not a definite indicator.
The Stocharstic RSI is at historically low levels signally we are oversold and again another reversal potential signal, last time we were here on the weekly we bottomed out and rallied to new ATH.
We've also done an RS flip, turning our previous ATH resistance at around $1.15 into support, there maybe a chance we test this support again if there more correction to come with BTC & ETH but i'm feeling hopeful for a higher low, double bottom scenario.
On the daily we got rejected from resistance above at around $1.37, so looking to take out this resistance before I feel more bullsih. The Mac D looks like it was to flip into the Bullish terriotory on the daily chart which could be a good sign for at least a short term reversal. Once we take out all resistance above and contest ATH i'm looking at the GOLDEN POCKET at $4.70 as the next target 🚀
What do you think? Time for reversal or more dumpage? Drop your comment below.
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This is a good analysis.
Idk if it'll turn out to be exact but I can't help it than to hope for a reversal or something better.
Hive has really been doing great since the beginning of the year not dropping less than a dollar. I would say we have really come this far and I'm positive there's more to come for us in the future
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