a technical analysis post for Binance on the HIVE/USDT trading pair, with 3 target price levels:
๐ Technical Analysis: HIVE/USDT (Binance)
Current Price: 0.5019 USDT
24h Price Change: +36.39%
HIVE has shown significant upward momentum recently, bouncing back from a 24-hour low of 0.3650 USDT and reaching a high of 0.5238 USDT. With a 36.39% increase in the past 24 hours, the pair is gaining attention from traders. Here's a deeper look at potential price targets moving forward:
๐ฏ Target 1: 0.5240 USDT (Recent Resistance Level)
The immediate resistance level to watch is around 0.5240 USDT. This area has been tested and could act as a barrier for further upside movement. If HIVE manages to break through this level with strong volume, it might trigger further gains.
๐ฏ Target 2: 0.5311 USDT (Higher Resistance)
Should HIVE break through the 0.5240 level, the next target to focus on is 0.5311 USDT. This is the next major resistance point, and a breakout here could signal a continuation of the bullish trend towards higher prices.
๐ฏ Target 3: 0.55 USDT (Psychological Resistance)
The 0.55 USDT level presents a psychological barrier, as it represents a round number and would mark a notable milestone for HIVE. A strong push through this level could lead to a retest of previous highs and open the door for further bullish action in the mid-term.
Key Support Levels:
0.4780 USDT: The immediate support level to monitor, which corresponds to the lower bound of the recent price action.
0.4249 USDT: The more significant support zone in case the market experiences a retracement.
Volume Insights:
24h Volume (HIVE): 138.99 million
24h Volume (USDT): 61.12 million
These higher volumes suggest that HIVE is seeing increased market interest and liquidity.
of further movement.
