Eve Hive price broke up consodilation zone which is coming from May 2022, Hive price went down and touched the middle line of this zone. I shared lots of analysis and said this zone is important for Hive price.
0.40 USD is top line of consolidation zone. After tocuhing and supported by the middle line of this consolidation zone, Hive price is at the top line on condolidation zone.
Hive price should stay above this zone to enter bullish season!
Here you can see daily chart of Hive. I circled the same price move. We have seen this scenario at the beginnign of 2023 and Hive price supported by the midle line of consolidation zone which is at 0,33 USD level.
When Bitcoin went down from 74K to 62K, Hive price went down from 0,50 USD to 0,33 USD.
I think we will never see Hive price under 0,33 USD..
When we look at the indicators of Hive price chart, there are a few similarities coming from past. RSI Indicator is broken down. We saw this price move at November 2023. Hive price supported by the middle line again.
MACD Indicator is reversed from the top and trying to reverse again. We have seen this scenario..
If Bitcoin price stays solid, Hive price may break up this consolidation zone.
If Bitcoin price goes down, the middle line of consolidation zone is great support!
I think you may see again Hive price on 0,33 USD.
I hope we will see Hive price bullish move.
We will see...
Posted Using InLeo Alpha