Today we will see how far the price of Hive can correct or increase, considering 0.36 as a support price. (I explain it below)
Hive price touches 600-period MA line and bounces back. (I explain it below).
We will analyze according to fibonacci retracement and logarithmic chart trend lines.
I don't think the price will go back to 0.35 in the short term, if it is going to be a support price. Except for macroeconomic events that drive the entire Crypto market down.
Comparing Bitcon with Hive we see that the price has bounced by 0.35 before Bitcoin reached the low of 17500.
Taking all this into account, analyzing the fibanacci retracement chart we can say that if the price breaks the 0.56 downwards it could reach the 50% fibonacci retracement for the 0.51 cents and if the price breaks towards the 60% retracement it could reach the 0.40 cents
The 0.40 cents would coincide with a downtrend line that would now act as support, logarithmic chart.
UP!!!. Another possibility
So that the bullish rebound is not considered over, we should see a daily green candle, or a red one of indecision.
If there is one more impulse left for Hive, the price could bounce off the 0.236 fibanacci retracement for 0.53 cents and if it exceeds 0.66 cents it could go up to 0.78 cents.
Because 0.36 is good support.
I told you 15 days ago, that it was a good purchase price for Hive at 0.35.
graph: Previus post
price now
I did an analysis, I showed them why.
This is the link if you want to see the more in-depth analysis.
And why does the price bounce off the 600 period daily chart line?
Average of 600 daily chart periods
I told you 15 days ago that Hive could bounce back and touch the 600 period daily chart line.
graph: Previus post.
price now
This is the link if you want to see the more in-depth analysis.
What do you think Hive price Up or Down? . Buy at 0.36 cents.? Thinking of buying Hive?
Protect your assets use Stop loss
The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
We will continue monitoring
To be attentive
Protect your Investments
Feel free to use and share my post or graphics, but please mention, @criptoar as the author. Otherwise, consider plagiarism and I will call you and advise my friends to do the same.
READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.
For your vote or comment, thank you
About LeoFinance
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: leofinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Our mission is to put Web3 in the palm of your hands.
Twitter: https://twitter.com/FinanceLeo
Discord: https://discord.gg/E4jePHe
Whitepaper: https://whitepaper.leofinance.io
Leofinance Applications
Join Web3: https://leofinance.io/
LeoMobile (IOS): https://testflight.apple.com/join/cskYPK1a
LeoMobile (Android): https://play.google.com/store/apps/details?id=io.leofi.mobile
Delegate HIVE POWER: Earn 16% APR, Paid Daily. Currently @ 2.8M HP
Hivestats: https://hivestats.io
LeoDex: https://leodex.io
LeoFi: https://leofi.io
Polygon HBD (pHBD): https://wleo.io/hbd
Polygon HIVE (pHIVE): https://wleo.io/hive
Web3 & DeFi
Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:
CubFinance (BSC): https://cubdefi.com
PolyCUB (Polygon): https://polycub.com
LEO Wrapping Bridge: https://wleo.io