Approximately 11 days ago the hive started a small uptrend, after several weeks it was trading in a bearish channel (see chart 1) that could lead it to touch the lowest lows. Fortunately we got out of that channel and started a small recovery and now for 5 days we are in a side channel in the middle of two important lines (0.167-0.14 $) (see chart 2) without knowing yet in which direction it will go in the next hours or days.
Today we are in the $0.15 price range, practically in the middle of those two lines, and moving sideways.
Usually when a crypto spends a lot of time moving sideways, at the end comes a very strong movement, and either up or down.
According to the analysis I've been doing the last few days it is very difficult to predict a next movement for the hive.
In the graph in time of one hour we can see how it has been moving in the middle of the two lines.
The volume of the hive is the lowest since it was included in large exchanges and that is because the big 3 (binance, huobi and bittrex) still have the deposits and withdrawals offline.
It is very probable that this strong movement can be generated at the moment that the exchanges enable their wallets and at that moment we will be very much in expectation.
We know that HF24 has a week to develop and even some applications are presenting problems, when everything is normalised automatically the exchanges will give the green light to withdraw and deposit.
We are still in a range of accumulation and we must be positive that the next movement of the hive will be upward.
Be patient friends, soon the bullfight will come.
Disclaimer.
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