Follow up: Hive Breakout

Seems like we didn't have to wait long for an answer

In my last post: "Can Hive Break the Resistances" I pointed to current break out levels at the 4-5 cents area. Just the night after I posted we got a pump of 25% - and more importantly, good volume with it. On Upbit alone it was close to 470M (!) and coingecko has it at over $30M. Not too bad... Hive once again showcases that it belongs in the big leagues.

Anyway, like always the pump has faded and price is barely up on the day, but again, this clearly shows Hive's potential.

Is this the turning point?

~500M volume on Upbit is not small, and I think it is a clue that Hive may have indeed found a bottom. Just look at how this candle compares to previous ones. It is clear that there haven't been too many throughout the years. Candles like this generally indicate a major trend change.

When we look at the daily chart, we can also see that price became volatile exactly at the red resistance trend line as expected. Together with significant volume I think we can expect a continuation of this momentum.

In the best case scenario, price pushes along the wicks over the span of several weeks (perhaps months) to make new local ATHs. A volume spike like this also virtually never stands alone. There will be more volatility in the next few weeks; although I am not certain if Hive can push into the 6-7 cents area just yet. Might actually be a good idea to keep some liquid Hive to take advantage of these pumps.

As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!

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