Even Hive price got big weekly red candle, it is still above 8-week moving average. This average is important for midterm. Being above this average is important for Hive price. Hive price may enter mini bullish trend.
Here you can see weekly chart of Hive price. Hive price was in great descending channel since 10th October market crash. It broke up the top level of this great channel a few weeks ago. After breaking up this channel, Hive price got big weekly red candle and touched again the top level of this channel for retest. The restest should be completed and we should see the new weekly green candles on Hive price chart.
Here you can see the indicators on weekly chart of Hive price. Fisher Indicator is at the middle level. Even it is at the middle level, it reversed down from this level before. We may see same reversing down from this level.
MACD Indicator is going up slowly. We need lots of week to reach 0 level on MACD Indicator. MACD Indicator should be above 0 level to enter bullish season.
There lots of downtrend lines on RSI Indicator. They are broken up. We need to bullish pattern on RSI Indicator.
We may see consolidation period on Hive price for long time. It may be time to pick for long term. Even Hive price is close to the bottom, we need time to chance the trend.
We will see...