#hive's price is now sitting at 200 MA. In the stock market, when such a thing happens, technical analysts anticipate the sudden appearance of supporters or buyers. Is such an indicator applicable to the crypto space?
#hive's price is now sitting at 200 MA. In the stock market, when such a thing happens, technical analysts anticipate the sudden appearance of supporters or buyers. Is such an indicator applicable to the crypto space?
I would say it is a tough comparison for something like Hive. The volume is so low relatively speaking that I dont believe that TA is as applicable as more heavily traded assets.
There are some analysts who say that TA is all about reading the emotion that drives the market price.
That is what markets are: driven by fear and greed.