Hive Analysis with Bollinger Band

Bitcoin weekly and monthly closing price finished at a very good place. Recently, while prices were increasing during the week, prices were decreasing on the weekend. As such, the closing price was not where we wanted it to be.

There is a pullback after the closing price, this is quite normal. From now on, we will check whether this decline deepens further.

Bitcoin halving is about a month away. We have always witnessed positive price changes in cryptocurrency prices after these periods.

(Tradingview Hive /USDT 1D chart)

Hive price is currently $0.414. There is a correlation between them and the Bitcoin price. When the Bitcoin price fell, the hive price also fell.

Hive price is at a critical place in the bollinger band. Just above the middle band. If it falls below the middle band, there will be a retreat in price. It may drop to the lower band at $0.35. For those who think long term, these prices are an opportunity to buy.

It is useful to follow the Hive price together with the bitcoin price. Nowadays, its price has decreased or increased completely depending on the price of bitcoin.