#BitcoinHashRateSurge $HIVE coin analysis on the hourly frame:
Technical analysis:
1. General trend:
The coin (HIVE/USDT) is witnessing a clear upward trend as it rose by +64.73% in 24 hours, indicating strong buying momentum.
2. Moving averages:
MA(7): at 0.6084 (positive signal and close to the current price).
MA(25): at 0.5568 (supports the upward trend).
MA(99): at 0.4141 (strong signal of the long-term upward trend).
3. RSI (6):
It is located at 66.22, which is close to the overbought area (70). There is still room to rise, but the price may approach a correction soon.
4. Parabolic SAR:
The dots are below the candles, which reinforces the upward trend.
5. Volume:
The volume is strong, reflecting the interest of buyers in the currency.
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Supports and Resistances:
1. Supports♥:
1st Support: 0.6084 (MA 7).
2nd Support: 0.5568 (MA 25).
3rd Support: 0.4840 (recent bottom).
2. Resistances♥:
1st Resistance: 0.6849 (24-hour high).
2nd Resistance: 0.70 (important psychological barrier).
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Recommendation♥♥:
If you already own the currency: You can wait and watch the resistance break at 0.6849 with strong trading volume to continue holding. If it does not break, you can consider selling at this resistance.
If you are planning to buy: It may be better to buy after a price correction occurs at one of the support levels such as 0.6084 or 0.5568.
HIVE
0.5449
-2.2%
#HİVE #BTC
#SUIHitsATH
