Hive Technical Analysis - When can Hive actually pump for this Bull Cycle

hello everyone,
How are you all? I hope everyone is fine and doing great in their life.

Hive for this bull cycle is struggling a lot and that is the reason why we are forced to believe that hive might not pump like it pumped the last time. Those were good days when hive was trading above 2-3 USD but right now we are down to 0.23 USD for the same. Now whether hive will pump or not depends on a lot of things.

And one of them is the important resistance getting broken as well as the strong support getting hold by hive as that will make sure that a rally in hive will come for sure. have a look at the chart below which I have shared in few other blogs here before as well while we were doing the technical analysis of hive.

You can see that the lowest support line for hive was broken and currently acting as resistance for hive, hive is trading below this line for the second time in this bull cycle. In June 2024 we saw hive breaking the support and getting dumped by 50% after that before we saw a retracement again.

The first time hive broke that support, it was there for 180 days. Have a look below,

Just as hive started dumping and reached 14 cents from 29 cents which is 50-55% loss for the token, when hive broke this resistance we saw it pumping by 50-130% and that is why a look at this resistance is very important. When hive started trading below this support again we saw a dump of 34-35% and so far we have been in this level for 100 days.

You can see that it has been 100 days and we are still trading below that support. If resistance is broken successfully we will surely see a nice pump in hive. Maybe a 45-60 cents can be expected and if even higher resistance are broken we can see it go 1-1.2 USD max for this cycle in my opinion.

Share your thoughts with me in the comments.

Thank you