In this article, I will discuss the outside potential of the HIVE in the ongoing bullish market right now. I will start from the HIVE and end after talking about the BTC Dominance and the money flow.
DISCLAIMER: This post is all about my view and my analysis which is presented only for educational purposes. Considering these points as the recommendation would be stupidity.
WHAT THE PRICE OF HIVE HAS DONE?
The price has bounced from the 0.4$ - SUPPORT ZONE and has done an impressive move towards the upside. The minor resistance that was at around 0.48$ has been broken.
WHAT IS THE PRICE DOING NOW?
The price is trading above the support zone of 0.48$, which means that the price is consolidating at this key level. Whenever there will be any pullback it will act as the savior because at this point the price will have accumulated for a while.
WHAT THE PRICE POSSIBILITY NEXT?
- The next level that I am looking for right now is at 0.64$. From the entry price of mine, it is around 57% above and I will be booking some profit personally at that level.
- If we get the good liquidity at 0.64$ , then the price could easily go for the next price target which is at around 0.83$.
- After that, the last price which could be hit is the 1$ mark for the HIVE and it seems obvious, I will talk more about why in the following paragraphs.
BITCOIN DOMINANCE:
I don't change my charts, I have posted this chart in my previous article a few weeks back and it seems the price has been getting rejection from the 44 marks for a while, which clearly shows, the next level it is going to touch is 41. This simply means the money will be flow to the altcoins from the top-ranked to the mid-ranked and to the low-ranked coins. In this process at some level, HIVE will experience the same money flow which will make the price to reach higher and higher marks.