In this Hive technical analysis, we will examine the current price action, trading volume, key levels and indicators for HIVE-BTC. Hive is a decentralized blockchain-based platform that enables the creation of decentralized applications (dApps) and decentralized finance (DeFi) protocols. Hive’s novel consensus algorithm, called “Hive-OS,” allows for faster and more secure transactions, making it an attractive option for developers and users alike. Additionally, Hive’s unique governance model ensures that the platform is truly decentralized and community-driven.
Hive Price Overview:
As of October 02, 2023, Hive is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for HIVE-BTC:
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): Hive reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for HIVE-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, Hive is trading near its daily close of 1e-05 BTC.
|1D Change (%)||-2.73%|
|3D Change (%)||-4.12%|
|7D Change (%)||-5.31%|
|30D Change (%)||-0.28%|
|90D Change (%)||-3.86%|
|YTD Change (%)||-31.45%|
Over the past three days, HIVEBTC has dropped by approximately -4.12%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -5.31%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with HIVEBTC maintaining a downward trend of approximately -0.28%, despite intermittent fluctuations. Examining the last 90 days, HIVEBTC has witnessed substantial decline of approximately -3.86%, reflecting strong long-term confidence. Year-to-date, HIVEBTC has steadily declined by around -31.45%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Hive Live Chart:
You can access a live price chart for HIVE-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.2607.
- Momentum score is -0.0028.
HIVE BTC Technical Analysis
Hive Trading Volume:
The trading volume for Hive (HIVE) over the past 24 hours has been insignificant, with approximately 94,283.00 BTC traded against HIVE. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
- 50-day Simple Moving Average (SMA): HIVE is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Hive is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for HIVE-BTC is currently in the low zone, around 44.99966. This suggests that Hive is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Hive (HIVE-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.