Hive (Hive/USDT) Important 60% Fibanacci. Thinking of buying Hive or Not?
This is an update post. It seems important to me where the price of Hive today has gone, in its decline
Today we will see to what extent the Hive price can correct, because it is important that it maintains the 0.48 cents, considering 0.36 as a support price. (I'll explain it in the comments)
We will analyze according to fibonacci retracement and logarithmic chart trend lines.
What happened on the Hive Bull Bounce
Hive price touches 600-period MA line and bounces back. (I'll explain it in the comments).
I don't think the price will go back to 0.35 in the short term, if it is going to be a support price. Except for macroeconomic events that drive the entire Crypto market down.
Comparing Bitcon with Hive we see that the price has bounced higher, at 0.35 before Bitcoin reached the low of 17500.
Analyzing the chart with fibanacci retracement we can say that the price will break the 0.56 downwards and reach the 50% fibonacci retracement at 0.51 cents and the price breaks again towards the 60% retracement at 0.46 cents
The 0.40 cents would coincide with a bearish and a bullish trend line, which has formed in the last few hours, which would now act as support, logarithmic chart.
The 60% and 70% fibonacci retracement are the best areas that the price of Hive should stop its fall thinking of continuing with a bullish rebound.
What do you think Hive price Up or Down? . Buy at 0.36 cents.? Thinking of buying Hive? Will it be correct?
Protect your assets use Stop loss
The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
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