Over the past few week we have seen rising global uncertainty with with walls on the Middle East as Iran and Israel are in warfare with each other forcing most investors to derisk I'm both the forest market and the cryptocurrency market has been dropping gradually extensions oversee continue to escalate. Since the inception of the bull run altcoins has been lagging behind are most institution attention are directed towards Bitcoin even the almighty Ethereum is also suffering from the liquidity Crush which has led to study decline in the earth coil market. Hive on this on end is also suffering from this liquidity shock as the price has dropped from $0.6 which was the recent high last year to below $0.2 struggling like most altcoin although active activities on the hive blockchain continues to increase and development still continues to go on but this does not reflect in the price of the asset as the downward pleasure still continues with investors moving into Stables preparing for The Unseen which is being expected due to the ongoing War.
Over the past few week I have also been selling most of my altcoins moving into Fiat, as looking at the price action of hive which has been trading below all major emas on the daily time frame indicating bearish momentum of the price action of Hive, when a coin is trading below it 100 EMA on the daily time frame it is considered to be in a bear market and I have has been in this Bear market as the indicator shows above. Although the RSI is indicating I've been at an oversold position which results to price reversal if the coin finds adequate support level which is currently at $0.19 if it breaks we can dump fast to the $0.1 level, which will be a good price for major accumulation of the Hive coin for it has been long since this price was actually tested so let's be on the watch out and see how the market will react over the weekend and next week as the news of War and economic uncertainty continue.