As the volume of Hive decreases, its price also goes down. We saw that Hive pumped up to $0.68, but now it's at $0.52, and its volume has also dropped significantly. Which means that selling pressure is now visible.
It's obvious that Hive needed a correction, and now a significant correction has happened. If we talk about Hive's strong support levels, $0.5 is the strongest support level now.
In case this level breaks, the next level is $0.42, which is also strong. But I think that Hive's bullish trend will continue, and it will test the $0.8 resistance level soon.
Remember that Hive is being discussed on every exchange now, and there's a possibility that it will be listed on major exchanges in a few months, which is very good news.
If Hive gets listed on #Kucoin or other major exchanges, its all-time high is confirmed. Anyway, we need to keep an eye on these important support and resistance levels.
If Bitcoin continues to go down, it's better to sell #Hive at $0.5 and rebuy at $0.42. It's obvious that if Bitcoin pumps or dumps, all other altcoins follow it, and in the current timeframe, BTC looks bearish, which can bring down altcoins.
But Hive has a different pattern, which makes it difficult to predict. My advice is that if the market continues to drop, sell Hive at $0.5 and take profit.
What do you people think about the next price move of #Hive, do you think it will continue its bullish momentum? Will be glad to see your answers in the comment section.
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I don't really see the support at 0.42, but okay? I guess if we break 0.50 we shall see. Hoping that doesn't happen but I see bearish on 3 out of the 4 time-frames I usually look at.