$HIVE
Buy Deal Analysis:$HIVE
Pair: HIVE/USDT
Technical Analysis:
* General Trend: The pair is in a strong uptrend, supported by upwardly aligned moving averages (EMA).
* Support and Resistance:
* Strong Support: The level around 0.5394 (EMA 7) can be considered as strong support.
* Nearby Resistance: The level around 0.6849 (current high) is a nearby resistance.
* Technical Indicators:
* RSI: The Relative Strength Index (RSI) is pointing to the overbought zone, indicating a possible short-term correction.
* MACD: The MACD lines are crossing positively, confirming the uptrend.$HIVE
* Volume: The volume is high, supporting the strength behind the upward movement.
Conditions for entering a buy trade:
* Entry point: Wait for a slight price rebound from the current level or a decisive breakout of the nearby resistance at 0.6849.
* Stop loss: Stop loss can be placed below the strong support at 0.5394 to protect capital in case of a trend reversal.
* Profit target: Initial profit target can be set at the next resistance level or a future Fibonacci level.