$HIVE technical analysis

Coin: $HIVE

Liquidation Value: $3.9751K

Price Level: $0.47126

Here’s an in-depth analysis of the recent HIVE market move:

Price Action: HIVE broke below the critical support level of $0.48, triggering long liquidations worth $3.9751K at $0.47126. This downward move indicates heightened selling pressure and a potential shift in market sentiment.

Volume Surge: Trading volume spiked by 15%, signaling increased activity as traders reacted to the price drop. The liquidation event intensified bearish momentum.

Market Sentiment: Sentiment is currently bearish, with traders eyeing the next key support at $0.46. Bulls need to reclaim $0.48 to regain control and prevent further declines.

Opportunity for Traders:

If HIVE stabilizes near $0.47, it could offer a short-term buying opportunity, targeting $0.475 and $0.48.

A sustained drop below $0.47 might push prices lower, testing the $0.46 level.

Key Insight: The liquidation reflects a lack of confidence among long positions. Reclaiming $0.48 will be crucial for any potential recovery, while continued bearish pressure could lead to further declines.

Price Targets:

Upside Potential: Recovery to $0.475 - $0.48

Risk Zone: Below $0.47, potential drop toward $0.46

Stay alert to market movements as HIVE tests these critical levels!

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