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- 1 HIVE crypto price is currently trading at $0.4218 with a drop of 5.74% in the last 24 hours with a current market cap of $211.26 Million.
- 2 HIVE crypto price increased by 9.81% over the past seven days.
HIVE stands as the principal token of the Hive blockchain network. This digital asset facilitates swift, cost-free transactions on a global scale. HIVE thrives on a distributed ledger system, upheld by a collective of nodes that ensure transaction validation and recording on the blockchain.
The Hive Blockchain emerges as a distributed ecosystem tailored for an array of DApps and digital communities. Originating from a split in the Steem Blockchain in 2020, Hive champions a community-centric model, prioritizing decentralization and authentic content ownership. The platform is versatile, supporting activities like blogging, social interactions, and other next-gen web applications, rewarding users with HIVE tokens for their active participation and contributions.
Technical Analysis of HIVE Crypto
HIVE crypto is showing strength and heading towards the upper levels. This positive trend suggests that an upward move for HIVE crypto towards the expected target of $0.501 is possible. Therefore, bulls are likely to maintain long cryptocurrency positions. HIVE Crypto is trading above major moving averages, indicating a bullish mood.
Furthermore, the charts that track the price action of the cryptocurrency indicate a tendency towards a bullish market. The momentum gained by the asset suggests that it is likely to witness an upward trend that might even cross the upper threshold. The heightened activity and momentum in the market are also indicative of the optimistic outlook of the buyers.
At the time of writing, the cryptocurrency HIVECrypto was being traded at a value of $0.421. There was a 5.74% drop in the intraday trading session, indicating a bearish sentiment in the market. The intraday trading volume was at 5.82 million with a market capitalization of $210.96 Million.
However, if there is an increase in buying volume, the price could mark new highs in the bullish momentum. As a result, HIVE crypto’s price will rise further and remain strong on the daily chart.
Summary
The HIVE technical oscillator for USD is presently suggesting a bullish trend, with positive signals being highlighted by the MACD, RSI, and EMA indicators. This could indicate that the HIVE crypto price may continue to rise. The price movements are reflecting optimism among investors and traders on a daily basis. However, it is crucial for investors and traders to avoid making hasty decisions and wait until they are well-prepared before taking the next step. It is important to avoid FOMO and take a measured approach to investment decisions.
Technical Levels
Support Levels: $0.392 and $0.371
Resistance Levels: $0.470 and $0.500
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
