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IGNITION
Injective
Quantus
NEAR Protocol
Pearl
LayerZero
- HIVE is a decentralized cryptocurrency also the native currency of the HIVE blockchain.
- HIVE was launched on 20 March 2020 by Olivier Roussy Newton. It supports storing and retrieving data from the blockchain.
- Let’s analyze the coin through technical analysis and gather some information about it.
HIVE is available on many cryptocurrency exchanges like Binance, BKEX, MEXC, etc. The market capitalization of HIVE is $105.27 Million.
The current price of HIVE is $0.2946358. It made all-time on 29 November 2021 which was $2.97491600 and the all time low was made on 8 April 2020 which was $0.09257954.
Advantages of HIVE
- Speed- It takes 3 seconds to complete a transaction.
- Power- Future-proof system for storage and bandwidth.
- Transparency- No matter what others provide it gives transparency to its users.
Disadvantage of HIVE
- Slow performance- It takes a long time to solve queries. In the case of complex queries, it takes longer than the normal time.
- Complexity- It is complex to manage and set up.
Technical Analysis of HIVE
The image indicates that the coin is ranging between a support level and a resistance level.
The coin is unable to neither give any breakout in the upward direction nor the downward direction.
The green line is known as Support Level and the red line is known as Resistance Level.
By 27 September 2023, prices might drop to $0.272032 which means it may drop by 7,43%.
The current market sentiments are bearish according to some forecasts. HIVE overall is up by 10.96% which is quite good.
It recorded 18/30 days green in the last 30 days which is around 60%. The price volatility over the last 30 days was 3.08%.
The pattern in the rectangle is commonly known as ‘Three White Soldiers’. It indicates the failure of the pattern.
Its formation confirms that the price will rise in the future. The coin couldn’t continue its upward momentum.
The red candle next to it is an indicator that the price went in the down direction. Investors should wait for some time until any breakout is given by the token.
The F & I Index known as Fear & Greed Index is showing 43(Fear). In today’s session, it is up by 1.00% which is fluctuating.
In the last year it was down by 44.01% but in the last 3 years, the token was up by 84.52%. It is not a right time to invest in HIVE.
Price Prediction of HIVE
| Year | Low | High |
| 2024 | $ 0.254992 | $ 0.678931 |
| 2025 | $ 0.574186 | $ 2.32 |
| 2026 | $ 0.639061 | $ 1.061057 |
| 2027 | $ 0.670830 | $ 1.667856 |
| 2028 | $ 1.465005 | $ 1.654964 |
| 2029 | $ 1.580822 | $ 2.98 |
| 2030 | $ 1.683616 | $ 2.13 |
Live Chart of HIVE
Summary
By analysing the coin through technical analysis we can conclude that,
The recovery is only possible when any breakout is given by the coin. So far no recovery sign is seen in the coin.
The line chart of the daily time frame indicates that the coin is in a sideways position.
The coin is not suitable for long-term investment. In the yearly time frame, it is down.
In the monthly and weekly time frame, it is behaves the same as the daily time frame.
Levels
Resistance Level- $0.6342
Support Level- $0.2667
Disclaimer
The analysis is done for providing information through technical analysis and no investment suggestions are given in the article to be made by investors.
The coins are unpredictable so investors should have proper knowledge.
Cryptocurrencies are highly volatile and risky. Investment should be made with proper technical analysis.
