The MA midlines could be the keys in the price of Hive
We'll see
Today we had a candle wick in the price of Hive of 81% in the year. Pump or not?
The price increase of Hive today is incredible, that denotes the strength of the token
The MA averages are important to think of a bullish Hive in the medium term.
If we verify history we can see what could happen with the price, history does not repeat itself but rhymes.
If we consider that 2023 will be a bullish year for the price of Hive, we can compare it with 2021
Analysis Year 2021
We can compare with the month of July, where June 2021 marked Hive with a floor price.
In July its bullish trend begins, it breaks the MA line of 21 daily periods.
And in August (Moment 2) it breaks the MA line of 50 and 200 periods.
On his first attempt he fails to keep the price above the 200-period line.
When it succeeds, the price is maintained above the MA line of 50 and 200 periods, throughout the bullish cycle, until the Hive price of 3 dollars is reached.
In a few weeks, of the entire bullish cycle, the price breaks the 21-period MA, but we could see it as a trend line.
Moment 3 is already in 2022 when it breaks the MA average line of 50 and 200 periods but this time downwards.
Analysis Current Hive Price
As we see today, the price has not been able to sustain 40 cents. Leaving a large wick for today's candle for now.
It touches 45 cents, an 81% increase from 25 cents.
The price is rejected at the 200-period MA line and at the time of writing this post the Hive price is trying to break through the 50-period midline again.
The important thing would be for the price to continue with an upward trend, just as it did in 2021.
Possibilities
If the price remains above the average line of 50 and 200 periods, the price could once again reach 45 cents, establishing a price range, waiting for the 21-period average to rise to lean on it again at some point.
If the price remains below the average line of 50 and 200 periods, the price could retest the average line of 21 periods for 35 cents.
What do you think of the Hive price, will it continue with its upward trend?
For your vote or comment, thank you
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