HIVE looks bullish while many cryptocurrencies are dropping in the crypto market. According to Coinmarketcap data, HIVE is the most rising cryptocurrency today, up about 36% compared to the top 500 cryptocurrencies. On a weekly basis, it is one of the most rising cryptocurrencies. When we look at it on a weekly basis, HIVE rose 44%.
It seems that there has been a significant increase in investments made in HIVE in the last 2 days. HIVE had a great success today by drawing a long green candle. It seems that investors are accumulating HIVE at cheap prices. HIVE is currently trading at $0.58.
HIVE tested above $0.6 today, but so far without success and was rejected at over $0.6. This may be due to previously entered sell orders. It could retest above $0.6 in the coming sessions and if it clears the sell-off there and manages to stay above $0.6, it could move higher and draw longer green candles.
If HIVE clears the sales around $0.6, it can continue its successful upward trend. If it can stay above $0.6 and create support prices, it could move towards $1. But if it is rejected, there are support prices at $0.5 and $0.45.
I think HIVE will be above $1 in the medium term. And I think HIVE is cheap for under $1. I thought HIVE would hit a new ATH if there was no bear market this year, but the bear market prevented that. Today's rise surprised many, but once the bear market is over, HIVE may surprise everyone with an incredible rise.
In short, while the declines and uncertainties in the crypto market continue, HIVE's bullish appearance is proof that it is a very powerful asset. How high do you think HIVE can go when the bull market starts?
Posted Using LeoFinance Beta
The rewards earned on this comment will go directly to the people( @rtonline ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.