Hive price is in descending channel since 10th October market crash. It is going down day by day. Even it tried to break up up and middle level of this channel, Hive price still in lower channel. Yesterday was a good day for crypto market. Bitcoin price went up more than 5% in a day. Thanks to this pump, Hive price went up but the middle line of descending channel supported Hive price chart.
Here you can see daily chart of Hive price. Hive price is touching the middle line of descending channel. It needs a few daily green candles to break up this resistance.
Here you can see the indicators on daily chart of Hive price. There was downtrend line on RSI Indicator. It was broken up in a few days. After breaking up this downtrend line, It went down for retest and Retest has completed.
MACD Indicator is trying to reverse up. Fisher Indicator is also close to bottom and trying to reverse up.
Hive price may break up the middle level of descending channel. After breaking up this resistance, the top level of descending channel will be the new resistance for Hive price chart. Short term uptrend is close for crypto market. Hive price may go up thanks to this uptrend.
We will see..
Posted Using INLEO