$HIVE Traders Caught Off-Guard.

In a dramatic turn of events, witnessed a short liquidation of $1,622.7 at the critical price level of $0.3777.

What Happened

Short sellers betting on price decline were forced to cover their positions when the price reached $0.3752. This level acted as a liquidation point, sparking a cascade of buy orders to close short positions. The event resulted in heightened market volatility, leaving traders scrambling to reassess their strategies.

Why is This Significant.

1. Psychological Price Barrier: The $0.3752 level is now etched into traders' minds as a key resistance/support zone.

2. Market Volatility: Such liquidations often create ripple effects, causing unexpected price surges or dips.

3. Bear Trap.

This liquidation could signal a short squeeze, where prices rise sharply as short-sellers exit.

Key Analysis for $HIVE

1. Current Support Zone:

$0.35 - $0.375

This area could act as a strong base if bulls defend it aggressively.

2. Resistance Levels:

$0.40: Immediate resistance.

$0.45: A breakout above this could fuel another rally.

3. Buy Zone:

Traders looking to enter may find a good opportunity around $0.34 - $0.37, with proper risk management.

4. Targets:

Short-Term: $0.40

Medium-Term: $0.45

5. Stop-Loss:

Set tight stop-loss levels below $0.33 to protect against unexpected downside moves.

What’s Next for $HIVE.

The market could experience increased trading activity as both bulls and bears fight for control. Will break higher and continue its upward trajectory, or will sellers regain momentum.

Stay sharp, traders.

The battle for $HIVE is far from over.

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