Technical Analysis for $HIVE
/USDT🔥💯
Current Price: 0.4718 USDT
24h Price Change: +42.62%
Support Zone: 0.3241 (24h Low)
Resistance Zone: 0.4769 (24h High)
Technical Indicators:
Moving Averages (MA): The price is trading above the key moving averages, indicating bullish momentum.
RSI (Relative Strength Index): RSI suggests that HIVE is nearing the overbought territory, potentially signaling a slight pullback before further gains.
Volume: A significant increase in 24h volume (182.35M HIVE traded), suggesting strong interest and increased market activity.
Trade Signal (Bullish)
Entry Point (Long Position): Enter around 0.4710–0.4750, if market momentum is confirmed.
Target Levels (🎯)
1. Target 1 (0.4850): Short-term resistance, possible profit-taking area.
2. Target 2 (0.5000): Psychological round number resistance with higher profit potential.
3. Target 3 (0.5200): Extension target, based on previous price patterns and market momentum.
Stop Loss (SL):
Set a stop at 0.4550 (near recent support) to minimize losses in case of a market reversal.
Trade Momentum:
The market is in strong bullish momentum, but watch for any signs of a reversal or overextension above RSI levels to ensure entry timing is optimal. A pullback towards the 0.4550 zone is a potential buying opportunity for those looking to enter at lower levels.