🐝 Hive Price Update 0.342$ 📈

Hello everyone,

I wanted to share an update on the current state of Hive. 🚀

Source:
Graph data source 👉 binance.com "

Fear & index data source 👉 alternative.me

hive other data source 👉 coingecko.com

Data
🥇rank: 369
📈 Cap: 159882111 usd
📊Vol: 6681852 usd
24H 3.47649%🟢
7D 8.0134%🟢
30D -12.88852%🔴

For more information, you can visit the following links:
🔗 Hive
🔗 Hive Explorer

Actual Bitcoin fear & greed index:

HIVE/USD Market Analysis

• Current Trend: Bullish (Cloud color: 🟢)
• Tenkan-sen: $0.3376 (Price above)
• Kijun-sen: $0.3350 (Price above)
• Support Level: $0.3296
• Resistance Level: $0.3400
• ADX: 64.91 (indicating a strength of trend high)
• RSI: 60.71 (indicate neutral)
• MACD: 0.00, Signal Line: 0.00, Histogram: 0.00
• Volume Strength: -0.73%

Interpretation

The current price of HIVE is located above the level of the Ichimoku cloud, indicating a bullish trend. With a volatility of 70.98%, it is advisable to monitor the price levels around the Tenkan-sen and Kijun-sen to detect signs of strengthening or possible reversal.

Personal Considerations

Bullish Trend

• The HIVE market is showing positive signs, with the current price ($0.3423) above the Kijun-sen ($0.3350). This may suggest a bullish trend, and with the Tenkan-sen supporting further upward movement, we may see an uptrend in the coming days.
• However, with a volatility of 70.98%, it remains important to monitor any sudden retracements.
• The current Ichimoku cloud (Kumo) shows a solid structure, with support in the area of $0.3296.
• For now, the trend seems to be in favor of the bullish, but I will continue to follow closely to see if it will hold above this support.

Conclusions

• Given the current price of $0.3423, if it continues to respect the support level at $0.3296 and the resistance level at $0.3400, the trend could maintain its current direction.
• However, should the price break below the Tenkan-sen ($0.3376) or the Kijun-sen ($0.3350), it could signal potential weakness in the market, leading to a possible bearish phase.
• Conversely, if the price manages to break above the resistance level, it could indicate a strong bullish momentum, prompting further upward movement.
• The ADX value of 64.91 suggests that the current trend is strong, which should be taken into account when making trading decisions.
• The RSI value of 60.71 indicates that the market is neutral, providing additional context for potential reversals.
• The MACD line at 0.00 crossing above the signal line at 0.00 could indicate a bullish signal, while a cross below could suggest bearish momentum.
• Thus, traders should remain vigilant and consider these levels as critical points for potential entry or exit strategies.
• Monitoring the volatility, currently at 70.98%, will also be essential, as increased volatility may lead to rapid price movements and changes in market sentiment.

Link of analisys: Bitcoin-Fear---Greed-Index---Historical-Data
Link of volume analysis: Hive-Volume-Analysis