🚨 $HIVE /USDT ALERT: Sharp Downtrend with Oversold Signs! 🚨
HIVE has faced intense selling pressure, dropping by over 33% in the past 24 hours, currently trading at 0.2232. On the 15-minute chart, the price action shows a significant bearish momentum after a high of 0.2716, with the current price nearing oversold levels. This could present an opportunity if the price stabilizes or bounces from key support.
📊 Entry Price: 0.2250 (Consider entry if signs of reversal appear)
Key Levels to Watch:
Resistance: 0.2555 – A break above this level could indicate a potential reversal.
Support: 0.2182 – Holding this level is crucial to prevent further downside.
🎯 Take-Profit Targets:
1. 0.2350 – Short-term recovery target if a bounce occurs.
2. 0.2450 – Medium-term resistance as the price seeks stability.
3. 0.2600 – Higher target if HIVE manages a stronger recovery rally.
🔻 Stop Loss: 0.2150 – Placing a stop below the support to limit potential losses in case the downtrend continues.
⚠️ Caution: Traders should be cautious of further declines if support fails, as it may lead to accelerated selling. Look for consolidation or volume increase as confirmation of a potential reversal.
