Today's analysis of HIVE/USDT suggests mixed trends. Here’s a breakdown:
Price Action:
Current price ranges around $0.218-$0.22, showing a significant drop of about 13%-14% over the last 24 hours, depending on the exchange
HIVE is trading near key support levels, making this a potential area to watch for rebounds.
Technical Indicators:
Oscillators: Indicate a neutral stance, reflecting indecision in the market.
Moving Averages: Lean towards a strong buy, suggesting positive momentum could be building.
On the higher timeframe (weekly), HIVE appears to have broken out of a descending triangle pattern, signaling potential long-term bullish movements.
Resistance at $0.4136 could be the next target if momentum builds
Trading volume is sharply down by over 70%-80%, which may limit immediate price action
Trading volume is sharply down by over 70%-80%, which may limit immediate price action