Hive price shows strength. We can see that in the last daily candles.
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Today rising 8% according to coinmarketcap at the time of writing this post. And up to 12% according to the exchange.
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Today I will continue analyzing the midlines
As we see in the last days, the price shows strength since it has returned to gain the average line of 100 daily chart periods.
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If we analyze the graph according to moments as the price passes the average lines, we could say that we are at moment 2, exceeding the moving line of 100 periods and in search of the moving line of 200 periods daily chart.
We have already seen this in 2021
2021 Chart
- Moment 1
Where it breaks the 20-period midline after its correction, it struggles to break above the 100-period midline until it does.
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- Moment 2
The price exceeds the moving line of 100 periods and in search of the moving line of 200 periods daily chart.
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At this moment the line of 20 periods crosses the line of 100 periods upwards.
At some point, the price rests on the 20-period line following its upward trend.
- Moment 3
The price rises above the line of 200 periods daily chart.
Following the price an upward trend respecting the line of 100 periods in its corrections and with a trend marked by the moving line of 20 periods.
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In this bullish cycle, the price of Hive goes from 10 cents to a maximum of 1 dollar.
- Moment 4
When the price breaks the line of 100 periods, it would be indicating a continuation of the correction.
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Current moment
After touching the 200 period MA days ago in which the Hive price could not hold above the 100 period MA. But in the next few days he was able to exceed the 100-period average, showing that his goal seems to be the 200-period average.
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Today we have a big bullish momentum, the price of Hive is above 40 cents.
Possible Price Targets
45 cents. Average line 200 periods
50 cents. Breakpoint FTX
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What do you think of the Hive price, will it continue its upward trend?
For your vote or comment, thank you
READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
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