In this Hive technical analysis, we will examine the current price action, trading volume, key levels and indicators for HIVE-USDT. Hive (HIVE) is a decentralized blockchain platform that enables users to create, manage, and monetize their own social media networks. Hive’s native cryptocurrency, Hive Coin (HIVE), is used to incentivize content creation and community engagement on the platform. With its focus on privacy and security, Hive has gained popularity among users looking for an alternative to traditional social media platforms.
Hive Price Overview:
As of October 02, 2023, Hive is trading at approximately 0.2974 USDT. Let’s dive into the detailed price action for HIVE-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.307 |
| High (H) | 0.3072 |
| Low (L) | 0.2961 |
| Close (C) | 0.2974 |
| Volume (C) | 587,343.00 |
- Open (O): The opening price for today’s trading session was approximately 0.307 USDT.
- High (H): Hive reached a daily high of around 0.3072 USDT.
- Low (L): The daily low for HIVE-USDT was approximately 0.2961 USDT.
- Close (C): At the time of analysis, Hive is trading near its daily close of 0.2974 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -3.10% |
| 3D Change (%) | -1.06% |
| 7D Change (%) | 0.03% |
| 30D Change (%) | 7.29% |
| 90D Change (%) | -13.19% |
| YTD Change (%) | 15.00% |
Over the past three days, HIVEUSDT has dropped by approximately -1.06%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 0.03%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with HIVEUSDT maintaining an upward trend of approximately 7.29%, despite intermittent fluctuations. Examining the last 90 days, HIVEUSDT has witnessed substantial decline of approximately -13.19%, reflecting strong long-term confidence. Year-to-date, HIVEUSDT has steadily increased by around 15.00%, 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-USDT 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 0.33388.
- Momentum score is 0.07287.
HIVE USDT Technical Analysis
Hive Trading Volume:
The trading volume for Hive (HIVE) over the past 24 hours has been insignificant, with approximately 587,343.00 USDT traded against HIVE. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): HIVE is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Hive is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for HIVE-USDT is currently in the neutral zone, around 48.52526. This suggests that Hive is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Hive (HIVE-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways 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.
