Good Monday my fellow Cryptocurrency trader, I hope you are a wonderful week.
Notice here the yellow area on the chart, a long-term support level.
HIVEUSDT has been playing with this range for a long while. - It all starts in June 2021 when it pierced below it. - This same level becomes the market bottom in December 2022. - A bounce happens June 2023 as soon as this range is hit. - Then again in September 2023.
Starting November 2021 there was a strong decline. After HIVEUSDT hit this range, the decline stopped completely, no new lows.
- Finally a higher low in January 2024 and we have three weekly sessions green.
Seeing that so many pairs grew strong after coming out of a similar pattern, we can expect Hive to do the same.
We have subtle signals pointing to a bullish breakout. This whole pattern looks like an accumulation phase.