Hive Price Analysis: HIVE Price Slumped -3.12% in 24-hours


  • Hive(HIVE) records downward movement today.
  • Hive has a medium term resistance at $0.57.
  • HIVE price flashes signs of bearishness on 7-days price chart.
  • HIVE/USD trades near $0.47.

03 May 2024 : In this article we will walk you through Hive price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Hive, Is HIVE a good investment? Hive support & resistance levels etc. But before diving deep into the HIVE technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,218,209,246,853. The total trading volume stands at $71,163,129,668. Bitcoin shares 52.72 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $59,375.83 level after an upward movement of 3.14%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.44 percent reaching to $2,989.72 during the previous 24 hours.
While publishing this blog, BNB traded at $562.78, following a price change of 2.7% within the same time frame. SOL the native coin of Solana is up by 6.65 and currently trading at $138.58. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Hive Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Hive (HIVE)

HIVE Resistance Levels HIVE Support Levels
Resistance Level 1 $0.53 Support Level 1 $0.46
Resistance Level 2 $0.57 Support Level 2 $0.43
Resistance Level 3 $0.60 Support Level 3 $0.39

Hive Performance

HIVE has recorded a downtrend, losing -3.12% in last 24 hours. The current value of Hive is hovering at $0.47 with the trading volume of $4,711,521.00 USD in the same timeframe. The overall marketcap for HIVE is $209,357,506.00 USD while the coin price changes -7.88% over the week.

Hive Price Analysis

HIVE price analysis for 03 May 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Hive.

Moving Averages Price Indicator
Simple Moving Average (10) 0.50 Sell
Exponential Moving Average (10) 0.50 Sell
Simple Moving Average (20) 0.50 Sell
Exponential Moving Average (20) 0.50 Sell
Simple Moving Average (50) 0.52 Sell
Exponential Moving Average (50) 0.52 Sell

The Relative strength index (RSI) for HIVE Coin is currently hovering at 48 for 14-days average line, which means HIVE is in consolidation zone right now. The MACD line is standing below of the signal line after a crossover. Hive investors need to wait for any directional change over the daily chart. While HIVE’s Williams %R indicator is at -90.863 for the 14-day time period indicating a oversold condition and short term trend reversal is possible. Bulls can move the market in upward direction. As per the price analysis, the HIVE price may find support at these crucial levels of $0.46, $0.43, moving below these levels might bring the price to $0.39. on the other side, the resistance levels are at $0.53 and $0.57. A bullish breakout from the above levels may lead the price to the $0.60.

Conclusions

As of now, Hive is not doing well and is trading in reddish zone. In order to invest in the digital currency, crypto investors want to see the HIVE move into the positive zone. In 2022 and beyond, the Hive price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.