One of the great things about HIVE as a token is that it's so volatile. One the worst things about HIVE as a token is that it's so volatile. In other words, it's high beta.
When the market pumps, HIVE pumps even more.
We went from around 0.25 to 0.40 and now we're at 0.36. That's a huge move. And if anybody caught that move, hats off to you.
Rule of 4 charts:
1, Background macro
BTC is up. We're probably in for some chop. I'm still not totally convinced this pump has legs. Volume is low on kucoin here, but it's average for pumps on coinbase which is a better measure.
2, Weekly HIVE chart
Downtrend is still intact, but may be breaking out. This is a log chart, so plenty of room to run up to 1.00 or so.
3, Daily HIVE chart
Head space to 0.50
4, Hourly HIVE chart
Uptrend is consolidating on the short term moving averages. If you can catch those wicks it makes for a nice trade.
Overall, the big question is will the broader market continue to translate into beta returns? I don't think we're looking at alpha here.
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The $0.49-0.50, this is a magnet area, because this is where the last big downward move started, it's a big supply side, we almost got there last night when it was at $0.46, then it went down, which indicates to me that we can touch that price again and get to the supply point at $0.49.
For now, I would wait for $0.31 and here I would think about a buy. Obvious, this is no recommendation, it is simply what I see.
Greetings.
Good notes
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Nice nice, thanks for your thoughts. Personally, I would not bet on Hive hitting 1$ this yearish.
At the moment Hive price in the longer term is showing that the path of least resistance is up. IF we get a bull run then expect it to be a super cycle this time and things will go to silly unthinkable prices really.
In a bubble everything can happen, next super bubble bubble cycle bubble year will take a while doh.
Nothing to really get excited about yet, maybe if we can get over the long red downtrend line I'd have some more faith in the price recovery. It seems like every time we touch this line the sellers' attack, as they should.
I am betting that Hive will ease back down again, or is that just wishful thinking on my part, since I don't have nearly enough? :-)
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@tipu curate
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