Hello everyone. As the cryptocurrency community, we have been experiencing major shocks for a few days. People seen as leaders of the community are kicking the ecosystem. Those who make the most income from cryptocurrency trading are trying to shake people's faith in cryptocurrencies. I'm sorry, but there is no other explanation for this situation.
Anyways. Let's get back to our topic. Today I will share three coin charts. I have shared the charts of these cryptocurrencies before. I did not make a new drawing in the graphics. I stretched the lines to the right. I will review BTC, ETH and HIVE charts. I got the screenshots from Tradingview site. I follow the price data of the cryptocurrencies I mentioned on a daily basis. I get data from Binance exchange as the trading volume is higher.
The data above is taken from the BTC/USDT chart. We're testing the high of December 2017 on the downside. I hope he pops a needle and comes back. There is no significant support below the $12000 price level. The supply-demand region above is located at the level of 18750-19750.
The data is taken from the ETH/USDT chart. It is located in a large supply-demand zone. Price tests the 1037-1250 zone. The supply-demand region above is in the 1400-1900 price range. If the downside continues, it could drop to the $1000 level.
Hive/USDT chart. It tests the supply-demand zone in the 0.35-0.29 price range. If the downside continues, a drop to $0.2 can be expected. The above supply-demand zone crosses the 0.46-0.56 price range. Hive has been less affected by previous downtrends. This time it was more impacted as a percentage loss. I hope the downtrend doesn't continue any longer.
This is not a bullish or bearish signal. And this article is not investment advice. You should make your investment decisions yourself according to your psychological and financial situation. It would be more beneficial to see this sharing as an educational work. Ll see.
A very good analysis and I also think that the fall (although very powerful - 19% for Hive) is only temporary especially for HIVE
Thank you for your comment. Such declines are, of course, temporary. However, people's trust in blockchain and cryptocurrencies is fragile. In my opinion, we should not wrap the trust any more. I hope the market stabilizes soon.
Yay! 🤗
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Great analysis! We are swimming in unchartered waters.
Thanks for the comment. Let's hope it stabilizes soon.