Today we see a Divergence in the RSI that could indicate that the price of Hive has reached a maximum
Let's see
Analyzing the graph, we see that from the beginning the hive price has corrected from $ 0.34 to $ 0.18 and then a price DUMP has occurred to $ 0.09 exceeding any forecast of correction.
Then in the last few weeks the Hive price has formed a side channel.
In the last hours the price has broken this side channel, and has risen to $ 1 approx.
Hive's price has risen, for a PUMP product of Hive's listing on the Huobi exchange
Market:https://huobi.com/en-us/exchange/hive_usdt/
Fuente: Twitter
Previous analyzes of elliot were invalidated because the price has continued to rise, without a major correction, we should wait for a decline to analyze what happened.
The RSI is one more indicator that can give us clues of possible price movements,
Analyzing the RSI of 4 hours already shows us a bullish divergence, that the price could fall.
Key facts
- RSI indicates Bullish Divergence
- It also indicates the RSI that is in overbought values
- The volume has gone down in the last few hours.
Does this have to be the maximum?
The price may continue to rise but the RSI gives one more indication that the maximum is approaching.
What do you think?
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