Analysis and Prediction for $HIVE
Current Price Action:
$HIVE is trading at $0.3348, up a massive 35.66% in the last 24 hours. This explosive move is accompanied by strong volume, suggesting a potential breakout momentum.
Analysis:
Support Zone: The $0.3000 level, previously resistance, now serves as immediate support. A break below this could lead to retesting $0.2800.
Resistance Zone: The next significant resistance lies at $0.3600 (24h high), with an extended target near $0.4000 if momentum sustains.
Trend: The sharp recovery from recent lows indicates strong bullish sentiment. However, the current RSI could be approaching overbought levels.
Prediction:
If bullish momentum continues:
Short-Term Target: $0.3600
Medium-Term Target: $0.4000
If the price retraces:
Support to Watch: $0.3000
Trading Strategy:
1. Consider entering near $0.3200–$0.3300 for momentum continuation, with a stop-loss below $0.3000.
2. Partial profits can be secured at $0.3600, while holding for the next target at $0.4000.
3. Watch for potential rejection at $0.3600 to adjust positions or set tighter stop-loss levels.