Good day Hiveians!
Join me in analyzing the crypto markets!
Since our last update on Hive we saw continued upward movement
I just read this great post by 
Does it seem outlandish at this point? Of course it does. The price action of Hive has been rather stalled. That said, gems do not remain hidden forever.
Hive's price action has been right in the middle
Many may think that Hive has stayed behind other coins in terms of price action. But is this true? Let's have a look at the last 4 months and compare Hive's movement to 5 other coins
- bitcoin
- ethereum
- rune
- steem
- bnb
This is from April 23rd.
This is from May 23rd.
This is from June 23rd.
This is from July 23rd.
Hive is sitting just in the middle. This is a bit surprising to myself as well as I until now thought that Hive under performed (although if one looks further in the past this has certainly been true). The point here is that it is doing quite well. We had a huge correction down to 16 cents(!) in June, but have since recovered from that to about 55 cents. I think we are in for another big correction down to possibly 20-30 cents (and so is the entire market).
This is my macro outlook for Hive:
We have had 6 weeks of green bars now and there is some indication that we will see a correction back down to the 20s or 30s. But we have some major support in that area. The next real resistance is in the 2-3$ range and I think we could have a shot at it at the beginning of next year. If so, we should correct back to about 70 cents. If the crypto market is still in the late bull phase by then, I think 10$ is a real possibility.
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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