Bear and Bull view using 60M timeframe.
1. Bear View:
Hive is in currently following a downtrend pattern with LLs and LHs.
A fib retracement has indicated that a new low is made at 161.8%. The new low has been respecting its trend line (in blue) till now. With a recent pull back, another lower low is expected to retrace at 161.8% level again which same mean the price level of 0.21 and the same shall again respect the trend line. Moreover, the volume looks weak at this point for the bulls to enter anytime soon.
2. Bull View:
With the recent listing at Binance, the price surged upto 0.92 levels and corrected back till 0.3 levels. The price currently seems to build its support at 0.35 levels. A Fib extension suggests another surge in price to 61.8% which would give us the first target at 0.6. A further extension to 100% shall give us the Target 2 at 0.8.
To summarize:
Next Lower low: 0.21
Target 1: 0.60
Target 2: 0.80
Stay careful with this trade and don't put all eggs in one basket !
1. Bear View:
Hive is in currently following a downtrend pattern with LLs and LHs.
A fib retracement has indicated that a new low is made at 161.8%. The new low has been respecting its trend line (in blue) till now. With a recent pull back, another lower low is expected to retrace at 161.8% level again which same mean the price level of 0.21 and the same shall again respect the trend line. Moreover, the volume looks weak at this point for the bulls to enter anytime soon.
2. Bull View:
With the recent listing at Binance, the price surged upto 0.92 levels and corrected back till 0.3 levels. The price currently seems to build its support at 0.35 levels. A Fib extension suggests another surge in price to 61.8% which would give us the first target at 0.6. A further extension to 100% shall give us the Target 2 at 0.8.
To summarize:
Next Lower low: 0.21
Target 1: 0.60
Target 2: 0.80
Stay careful with this trade and don't put all eggs in one basket !