We really obeyed that channel since July and when we broke out to the upside with force (which likely happened because of hive fest) good targets could be found by measuring the last big pump before the channel (using the trend based fib extension tool on tradingview).
As you can see, the price has obeyed these levels (which were created by the move which peaked in April) so is there anything unusual about what is happening to hive? Not really. It just looked strong and good traders jumped on board. Unfortunately, these kind of pumps rarely sustain and I anticipate a pullback to at least the $1.80 range, but let's see! One never knows with hive. Lots of people will certainly be signing up after hearing from their friends how they are getting rich ;)
The main thing I would say is this chart.
We really obeyed that channel since July and when we broke out to the upside with force (which likely happened because of hive fest) good targets could be found by measuring the last big pump before the channel (using the trend based fib extension tool on tradingview).
As you can see, the price has obeyed these levels (which were created by the move which peaked in April) so is there anything unusual about what is happening to hive? Not really. It just looked strong and good traders jumped on board. Unfortunately, these kind of pumps rarely sustain and I anticipate a pullback to at least the $1.80 range, but let's see! One never knows with hive. Lots of people will certainly be signing up after hearing from their friends how they are getting rich ;)
Thanks Sam