In this Hive technical analysis, we will examine the current price action, trading volume, key levels and indicators for HIVE-USDT. Hive is a decentralized social media platform that leverages blockchain technology to provide users with greater control over their data and content. The platform’s native cryptocurrency, HIVE, serves as the primary medium of exchange for various services and features within the ecosystem. With its innovative approach to social media, Hive aims to empower users and creators while fostering a more open and inclusive online community.
Hive Price Overview:
As of July 08, 2024, Hive is trading at approximately 0.1919 USDT. Let’s dive into the detailed price action for HIVE-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.1868 |
| High (H) | 0.1964 |
| Low (L) | 0.1804 |
| Close (C) | 0.1919 |
| Volume (C) | 3,470,384.00 |
- Open (O): The opening price for today’s trading session was approximately 0.1868 USDT.
- High (H): Hive reached a daily high of around 0.1964 USDT.
- Low (L): The daily low for HIVE-USDT was approximately 0.1804 USDT.
- Close (C): At the time of analysis, Hive is trading near its daily close of 0.1919 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.62% |
| 3D Change (%) | 3.95% |
| 7D Change (%) | -11.24% |
| 30D Change (%) | -31.64% |
| 90D Change (%) | -51.59% |
| YTD Change (%) | -47.25% |
Over the past three days, HIVEUSDT has experienced a significant increase of approximately 3.95%, indicating a surge in market volatility. In contrast, over the last week, it has continued to decline, with a loss of around -11.24%, suggesting a decrease in investor interest. A 30-day analysis provides a more comprehensive view, revealing a downward trend of approximately -31.64%. Looking further back at the last 90 days, HIVEUSDT has witnessed a substantial decrease of around -51.59%, reflecting a decline in long-term confidence. Year-to-date, HIVEUSDT has steadily depreciated by approximately -47.25%.
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 0.62058.
- Momentum score is -0.11932.
HIVE USDT Technical Analysis
Hive Trading Volume:
The trading volume for Hive (HIVE) over the past 24 hours has been insignificant, with approximately 3,470,384.00 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 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-USDT is currently in the low zone, around 35.90556. This suggests that Hive is in bearish territory.
Analysis from TradingView:
Our Key Takeaways: Hive (HIVE-USDT) is currently experiencing short-term bearish momentum, with key support and resistance levels drawing attention from traders and investors. They should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Furthermore, the low RSI and insignificant trading volume are low signals indicating a potential downward movement.
Receive signals of caution for potential Hive (HIVEUSDT) downturns at 1.92e-01 USDT through bearish technical analysis, accompanied by weakened support and cautionary indicators.
Dive into the details with our in-depth analysis on HIVE BTC Hive Technical Analysis; you won’t want to miss it if you found this post interesting.
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.