I have been quietly accumulating HIVE for a little while now. With global events as they are and the crypto market showing signs of life I’ve been patiently waiting for some of the overlooked alt-coins like HIVE to catch fire. I still think the fundamentals are sound, perhaps even stronger than they were during 2017 and we’ve had the prodigal son return to post on the platform in recent weeks. It’s enough to start getting me excited about what might be ahead. After doing a little bit of Technical Analysis on HIVE today I did notice something that I thought was worth pointing out….
On the longer timeframe it does look like a nice fat round bottom and now with HIVE starting to make some higher highs it could very well be the start of something….but that’s not what I wanted to point out today. Have a look at the chart below, in particular the last few days in contrast to the month before.
See the very tight trading range there, that’s not particularly unusual as HIVE often trades in a tight range – but it’s right AFTER some strong volatility in both directions AND take a very close look at the VOLUME. There is a bit of a battle going on with a lot of volume within a tight range…..sure signs of COILING between about 13.4 and 14.4 US Cents. What that means is that once it breaks out of this tight range it’s likely to make a very strong move. Obviously I am hoping (and expecting) that it will be UP, but I might be wrong. Certainly it is a very good time to keep a close eye on the charts because either way this next week or two could be very important in setting the trend for the medium term.
I hope it goes up as well.
Guess we will see soon enough.
I'm not changing from my usual plan anyway. Just a steady accumulation of my favorite cryptos.
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I see you powered up 32k coins; agree something is afoot with those volumes.
I take any volume activity as a good sign.
Looking forward to the market rewarding those of us who've continued to accumulate throughout the bear market ;)
I’ve been accumulating recently too.
I've observed it too! But well see!
Good to hear you are feeling bullish on HIVE. I did notice that volume is up at last, now for that coil to spring!
It all depends on what Koreans will do.
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Hive is really undervalued. Hope to see us again at 0.20$+ soon.
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It will be a nice change when Hive creeps up and people have a little more confidence that it will still have value in the years to come.
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So we should prepare for a deluge of shit posts! 😆
Lofl
Thanks for the info @buggedout, I remember you getting out of crypto back in the day (https://steemit.com/bitcoin/@buggedout/5-reasons-i-sold-my-cryptos) showing some good discipline going by reasoning.
I also somewhat have a hunch right now to also get some more Hive but it's mostly based on having been there in 2017 when the steem price went from 0.8$ to 8$ knowing at the time some managed to get in around 0.10$. What keeps me back though is that fundamentally, not all too much as changes, and the things that were broken are still kind of broken the way I see it. Any thoughts on that, or is your position more purely a technical play?