Is Hive Ready For A Breakout!
We have seen the crypto market rise from the past day or so. Many coins have seen gains in double-digits and yet Hive seems to be consolidating around $0.32-0.33. It has been a few days now and Hive hasn't moved much. The volume isn't that great but still, it is good compared to what we used to have before the split of the chain.
Source
I am not a technical person when it comes to reading charts but what I know is that when a coin has a flat chart like this for a long period of time especially when the whole market is moving, it is ready to either go up or down big time. I can sense it coming, Hive is either going to pump or go down and maybe, the percentage gain or loss will be more than 15-20%.
But what looks a possible scenario for me here is that Hive is ready for a breakout upwards. The reason I am saying this is because currently, the market is rising and there is more money coming into the market and it is possible that some of it will be coming to Hive. It's just a possibility and the price can go down as well.
If you are a trader and you hold some Hive on an exchange, you have to be a little careful here. If the price of Hive goes up, you will see huge gains but if it goes down, you might lose a huge chunk. So, maybe a tight stop loss will help in such a case.
Disclaimer
I am not a financial advisor and this is my personal opinion. It is meant for information and entertainment purposes only. Do your own research before investing in cryptocurrency and never invest more than what you can afford to lose.
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In my opinion I guess there is no amusement for Hive right now so the chances are very less for it to go high. For the past few weeks I have been observing the trend and it looks like the price of Hive has just gone down and still slowly going down. As far as I see the trend will still be in that direction only unless we have some FOMO among the investors.
All we really need is for bitcoin to go up like crazy. Bitcoin is the king of the market, when it goes up it takes everything with it, everything which has some inherent value anyway. I believe Hive has value!
I'm not sure if that theory would work for Hive because when there was a huge pump last time, nothing happened with Steem. So, again even if bitcoin pumps to around 15k, I doubt it would take Hive price any further. But anything can happen in the crypto world. 😀
Right.
While most of the market is rising quickly, Hive is slowly losing value.
As I said, I am not an expert to predict what's gonna happen in future, I had observed such flat charts before and they most likely make a strong move upwards or downwards.
As the market is rising, I just had a feeling that Hive might follow.
Yes, the charts are absolutely flat on Bittrex and especially USDT-HIVE and USD-HIVE pair. Hardly less than 5 trades happen in a day.
Fully Upvoted by @hodlcommunity.
Thank you :)
Hello there @syedumair,
It could definitely be the case that we would see an upwards breakout but as mentionned by @bala41288, I am quite worried of the opposite, some people made a great deal of money with this HF and I see them powering down. For most of the others, they still remember HIVE at 0.09$ and therefore I believe would be reluctant to buy at 0.3$+.
That's my opinion and of course if we have a Bitcoin Bull run, I hope Hive will participate in it :)
What are your thoughts @bala41288?
Sincerely,
@vlemon
I completely agree with you. For people who saw the price near 10 cents, it can be very difficult to invest at this price. Maybe others are also waiting for the same to purchase. I guess our only hope is new investors. 😀
I think at that time we only had one major exchange there wasn't much volume either. A single whale brought the price down from 20 cents to 9 cents but it will not happen now as there is enough volume of different exchanges.
But yeah, anything can happen in crypto.
I hope it goes up instead of down :) I just wrote a post a few hours ago talking about the volume and price of Hive vs Steem, check it out if you're interested:
https://hive.blog/hive-167922/@hooked2thechain/hive-vs-steem-or-which-is-better-or-market-analysis
That's definitely a good thing if that happens. You know, everyone will be filled with joy once that breakout happens :)
That's what we want.
When the feed price was around 60 cents, my posts were earning almost double than what theh earn now and that really keeps us motivated and we create more content.