HIVE Price Poked to New ATH and Now Consolidates

The price of hive pushed to a new all time high back on September 4th and has since traded in a 15 to 20 cent range.

New Highs With More to Come?

Looking at the daily chart above you can see I drew just two horizontal trendlines.

One represents what was the prior all time high (on a closing basis) and the other is a level that saw several key pivot points and looks to be acting as support now.

Over the past week or so price did poke above that all time high line after the big spike back on the 4th, but for the most part has started to carve a range on the high end here near the prior all time highs.

The real key is price has bounced off that .71 area as a support. I was waiting to see what happened when price revisited the level on a pullback.

The 10 day moving average is caught back up on this consolidation and price held support so from a technical view point price action is still bullish.

We shall see what happens this week. The overall crypto market will have some impact on this as well.

Posted Using LeoFinance ^Beta