4 attempts and we still haven't been able to break the resistance by 13 cents
Since the hive reached its highest peak we all know that it has dropped and even touched the lowest support by 10 cents, from that moment the hive changed its trend and has recovered a little, however that recovery has been quite slow.
On November 3rd we reached the lowest point and automatically presented a rebound (see chart).
It has been slowly rising until it consolidates in a side channel. The volume has been the lowest since its launch and is one of the reasons why it has lost the volatility it had some months ago.
The RSI shows us that we are in an area where buyers and sellers will make the decision on which direction to move in the next few days.
I really like the day time chart because we can have a better perspective of the market in the long term, although the 4h chart can also give us several important signals, the big traders go better to the daily chart. In the case of short term trends and how a movement may originate in the day it is better to use the 1h chart.
Now, a couple of days ago we mentioned that we were trying to break the 13-cent resistance but that we would need more volume to break it with force and consolidate above that price. Unfortunately we touched the resistance and went back again (see chart).
As we try to break the resistance it weakens, perhaps in the next few hours we will try again to test this price and succeed.
The market is changing and all thanks to the fabulous movements that the BTC has been presenting and some alternative currencies are starting to experience price increases.
The market is in the green and we are at a point where the altcoin season would be starting, but first the BTC must reach its historical maximum in 20k and hopefully consolidate its price above.
Do you think that HIVE will join this altcoin season as it happened with the steem at the end of 2017?
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