HIVE has experienced significant selling pressure, plunging over 33% in the last 24 hours and is currently trading at 0.2232. The 15-minute chart reveals strong bearish momentum following a high of 0.2716, with the price nearing oversold territory. This situation could present a buying opportunity if the price stabilizes or rebounds from key support levels.
Suggested Entry Price: 0.2250 (Consider entering if signs of a reversal appear)
### Key Levels to Watch:
- Resistance: 0.2555 — A move above this level could signal a potential reversal.
- Support: 0.2182 — Holding this level is essential to prevent deeper losses.
### Take-Profit Targets:
1. 0.2350 — A short-term recovery target if a bounce takes place.
2. 0.2450 — A medium-term resistance level if the price stabilizes.
3. 0.2600 — A higher target if HIVE manages a stronger recovery rally.
### Stop Loss:
- 0.2150 — Placing a stop below the key support to limit potential losses if the downtrend persists.
⚠️ Caution: Be mindful of further declines if support fails, as this could trigger accelerated selling. Look for signs of consolidation or an increase in volume as confirmation of a potential reversal.
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