Finding a best support level for HIVE trades
Yesterday, HIVE broke its recent resistance at $0.82 and started another bull run. But the question is, HIVE reached its support level & will never see in the $0.8 price range.
Original Source
According to the HIVE trade history, every time the token pumped, it's dropped more than 50% from the pumped market price. Therefore the same incident happened in the recent price hike as well.
When you look at the below chart, we highlighted hikes & dips of the HIVE token reaches. You can see when the token dropped, it's stabilized for a couple of weeks to months.
Original Source
Therefore, we believe HIVE can drop to the $0.5 - $0.6 price range & which will be the best support level for the long-term trade.
Original Source
Original Source
According to the HIVE trade history, every time the token pumped, it's dropped more than 50% from the pumped market price. Therefore the same incident happened in the recent price hike as well.
When you look at the below chart, we highlighted hikes & dips of the HIVE token reaches. You can see when the token dropped, it's stabilized for a couple of weeks to months.
Original Source
Therefore, we believe HIVE can drop to the $0.5 - $0.6 price range & which will be the best support level for the long-term trade.
Original Source
Appreciate your contribution!
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