$HIVE Technical Analysis
The price of $HIVE has risen by 48.16%, showing strong upward movement due to high trading volume. However, the price has dropped below short-term moving averages (MAs), and the MACD indicator suggests that momentum is weakening. There could be a chance the price tests the support levels around $0.49 to $0.50 again.
Key Resistance: If the price breaks above $0.61, it would show that the bulls are in control, with the next targets being $0.68 and higher.
Short-term: Traders should watch for the price to hold above the support level of $0.49 and look for a breakout at $0.61.
Long-term: The positive outlook remains as long as the price stays above the 99-period moving average (MA(99)).
Support and Resistance Levels:
Support:
$0.4796 (MA(99))
$0.4939 (recent consolidation area)
Resistance:
$0.6126 (MA(7))
$0.6849 (24-hour high, major resistance zone)
