Short Term Outlook
The overall picture is still bleak for Hive, since there doesn't seem to be a hard floor yet. But I have spotted a short term pump potential of around 30%. This is due to the potential break out from a short term resistance trendline. If so, price could "easily" go up to the higher resistance at around 10 cents.
Here we can also see the 50, 100 and 200 SMAs; it seems as if the 50 (blue) and even more the 100 (green) would pose a resistance as well. The 200 (purple) is still quite far away and I don't think price will encounter it for quite some time.
So why is Hive up today?
Unfortunately, I guess, it is because of a Steem pump of over 20%... Yes Steem. It seems whales are still not finished with this s*** coin. In fact, Binance saw over 110M traded today. Sigh.
Conclusion
It seems that Hive cannot rid itself from Steem's influence. The two coins are still intricately linked and do well when either of them pumps. I wouldn't be surprised to see Steem flip Hive's MC again, although this is purely due to whales' gambling. Oh well, at least this gives Hive a good chance to revisit 10 cents soon again. The long term outlook is unchanged however: Hive needs to establish a floor first before we can see any real growth again.
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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