Greetings to all readers of this great writing platform, especially to those who share information referring to the crypto world, in the #LeoFinance community, in the present I want to share information regarding the behavior in the HIVE token market, since in 2 days it had a great bullish behavior despite the market was static and today it performs a very good movement that can give many things to think about.
 Screenshot taken at: Binance |
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The crypto market, continues to face an area that is of great indecision in the market, this area has left much to think about for investors and users, with the great news worldwide as far as the economy is concerned, the rising interest rate in the US and in some countries in Europe, plus the constant attacks and fear of people for the cryptomarket, coupled with the cycle of BTC which is in its year of correction, the market is in constant uncertainty.
Under all these situations that are presented, the HIVE market has taken some actions that really leave much to think about, because a couple of days ago I told you that HIVE launched a great wick that was possibly anticipating the fall of the market to avoid losing so much value in its price, on the other hand, we have seen how it rose 2 consecutive days, practically doubling its market value, with which it could consolidate a new value.
By following the market, it was to be expected that the price of the same would go down again, in search of the consolidated zone, which can be considered that it happened today, with which its price came to touch the long EMA as shown in the chart on the cover, with a value a little below $0.50 can be considered that this is the new support that has the price of HIVE in the market and with this we can affirm its consolidation in the price.
Many may think that this is the ideal time to buy and wait for the rebound, but remember that the market tends to be governed by the BTC, and this is still in an area of great market risk, which we do not know what may happen in the coming hours, and it is very likely that this market will fall further and thus drag the HIVE being trapped buyers in this area, although the opposite can also happen, but it is very risky, it is better to be cautious and wait for the picture to become clearer.
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