Technical Analysis #HIVE and Trading Strategies

- Current Price: $0.6108

- Intraday High: $0.6685

- Intraday Low: $0.3825

Support and Resistance Levels:

- Support Levels:

- Near Support: $0.50

- Strong Support: $0.45

- Resistance Levels:

- Near Resistance: $0.65

- Strong Resistance: $0.70

Technical Indicators:

- Moving Averages (MAs): The majority of moving averages indicate a bullish trend, suggesting upward momentum.

- Relative Strength Index (RSI): Currently at 55, indicating a neutral market, neither overbought nor oversold.

- MACD (Moving Average Convergence Divergence): A bullish crossover has occurred, suggesting potential upward movement.

Trading Strategies

1. Long Position (Buy): $HIVE

- Entry Point: Consider entering a long position if the price breaks above the near resistance level of $0.65 with increased trading volume, confirming an upward trend.

- Take Profit Targets:

- Target 1: $0.70

- Target 2: $0.75

- Stop Loss: Set a stop loss below the near support level at $0.50 to mitigate potential losses.

2. Short Position (Sell): $HIVE

- Entry Point: Consider entering a short position if the price fails to break the near resistance at $0.65 and shows signs of a bearish reversal.

- Take Profit Targets:

- Target 1: $0.55

- Target 2: $0.50

- Stop Loss: Set a stop loss above the strong resistance level at $0.70 to protect against unexpected upward movements. $HIVE