Hive is getting some action
While it has been rather quiet since May 5th, the day we saw the 700M+ volume candle, recent days have shown some smaller pumps. I believe this activity is showing that Hive is now in a macro trend change. As we could see from the last weeks, it is not something that happens quickly - it can be discouraging seeing all the gains from a big price swing getting erased and it ending up lower than from where it started. But this "behavior" is characteristic for a bottom: for Hive this has meant big price swings (pumps & dumps) within a consolidation phase and a breakout phase starting soon thereafter.
Currently, there seems to be a bigger resistance in the 6-7 cents area and a rounded bottom forming beneath it. Once price goes above this resistance (which also coincides with a weekly resistance trend line), there should be a pretty big price swing taking us back into the double digits.
The bigger picture shows 3 similar bottoms with the two previous ones occurring in 2021 and 2024. All of them have taken several months to resolve and should price break out to in the coming weeks it would fit the so far observed pattern.
Previously, I have shown that the current uptick in volume has so far always corresponded with a bigger positive price change. If this pattern holds, we can expect a bigger price swing up to either the low teens (10-13 cents) or a bigger one taking us back to the macro resistance at around 25-30 cents as shown here (price is in KRW):
Conclusion
While it will still take some time for price being back at a level that actually reflects Hive's value, I believe the uptick in volume as well as an increased activity from the "Cex whales" is showing the start of a bigger trend change. My target for the next cryot peak is in late 2028, so Hive still has some time to get back up on its feet.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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