$HIVE Coin Jumps 46%... Is It Preparing for a New Breakout or Facing a Sharp Correction?

To Analyze $HIVE Coin

1. Resistance and Support:

Highest Point (Current Resistance): 0.6849

Nearest Support: 0.4655 (Clear Line on Chart).

Minor Support: 0.4223 (EMA 99, 99-period Exponential Moving Average).

2. Moving Averages (EMA):

EMA 7 (Yellow): 0.5882

Current price is below EMA 7, indicating that the correction may continue.

EMA 25 (Purple): 0.5192

May act as support in the near term.

EMA 99 (pink): 0.4223

Strong support indicating a long-term bullish trend.

3. Relative Strength Index (RSI):

Current value: 48.32

RSI is in the neutral zone, which means the currency is neither overbought nor oversold. If RSI drops below 40, there could be stronger bearish momentum.

4. Volume:

Volume at peak: 21,429,097 (MA 10)

Recent volume in decline: Significant decline, indicating weak bullish momentum and could signal a continuation of correction.

5. Possible trend:

Upward scenario:

If the price breaks the resistance level at 0.6849 steadily with increasing volume, it could head towards 0.70 - 0.75.

Downward Scenario:

If the support 0.4655 is broken, it may drop towards 0.4223 (EMA 99)

Possible Entry and Exit Points:

Buy Entry: Between 0.4655 - 0.50 with bullish signals.

First Target: 0.5840

Second Target: 0.6849

Stop Loss: Below 0.4600

The general trend is up, but the currency is currently in a correction phase.