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The bleeding market still respects a $1 HIVE..

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Isaac
@maoyagi
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2 min read

The crypto market generally seems to be bloody as most cryptos are on the bearish trend and that is also an opportunity for a trader to get into the market and buy the dip but the question is how much dip do we still have left? Buying the dip only works when we are buying it at the right time..

Despite the general dip on the crypto market , the HIVE market have impressed me and I am astonished that the HIVE is still able to still sit at around the $1.4 price zone and the market is finding it difficult to break below $1.2 despite the dip on the crypto market...

The three days chart displays the clear picture of a dip which occured for several days and was only able to bring down the HIVE price down to its current price of $1.38.

When you look at the chart carefully, you should notice that the volume for the current dip seems to be so low meaning that the bears are weak on the HIVE market and cannot push it much lower than they would have love to push it,

So one of these two things are expected to occur..

1..The bulls will be strong enough to rise back and push the HIVE price back to its normal price before the dip occured

Or

2...The market will be in a ringing zone without any specific direction..

The daily chart shows that the HIVE market is presently in the oversold zone , and most times when it is in a oversold zone the market tend to either experience a trend reversal or at least a retracement..

So I expect a bullish HIVE very soon and the bullish move might be a new bullish trend or just a retracment but the future still looks very bright for the HIVE investors and the market as a whole..

The current six hours candle chart is showing that there is a new price support at $1.36 also at a oversold zone too, expect a retracement which should push the price to around $1.4517 and if the current daily candle is able to close above $1.45 then we might see a $2 bedire end of this week..

Please trade carefully.. this is not a financial advice.. just the analysis of the market..

Posted Using LeoFinance Beta