Hive has reached a very crucial point. After this point the decision will be made about the direction of its next move. The recent pump pushed Hive to around six cents and from there we saw a heavy rejection at the EMA 200. During the correction Hive dumped by 8 to 10 percent and now it is again in the recovery phase.

If you find and check my old post you will understand that I said a 37 percent pump was expected on the one-day time frame. The same thing happened. After touching the EMA 200 I said that rejection was possible from here and then preparation for the next leg would begin. So far everything has happened exactly as I explained.

According to the current price you can see that I have done analysis on two time frames. The one day time frame is very important for us.

The first image is of the one-day time frame where you can see that I have drawn a trend line. The good thing is that this trend line has not been broken yet. Although we saw a fake breakout towards the downside there were heavy buyers present there and they brought the price back inside the trend line.

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BULLISH TRENDLINE INTACT

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As long as the candles remain above the trend line our bullish confirmation will remain valid. But as soon as two to three candles start forming below the trend line a trend reversal will also become possible.

So far there has been no change of character which shows that our bullish momentum is continuing and its price can move upward at any time.

You can see that I have also highlighted the formation of higher highs and higher lows with a round circle directly on the chart. It is still following the best pattern in the same way.

At this time our major resistance is around six cents and the EMA 200. After breaking this level our next level will be around eight cents. So we need to watch this level very carefully to see whether Hive can break it or not. If this level is broken downwards we may again move towards a short term bearish phase.

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SMALLER TIME FRAMES INDICATES BEARISH PATTERN

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This confirms that Hive is still in its bullish momentum on the one day time frame while the scenario on the 4H time frame has changed a little.

According to this time frame a formation of lower highs and lower lows is developing which shows us a bearish mood. You can see that I have also drawn a round circle around this area where the price is moving downward after breaking the EMA 200. However it has taken rejection from its trend line.

We hope that it will not face too much rejection at the EMA 200 and that we will soon move out of the bearish phase on this time frame as well.

Remember that when you are analyzing two time frames you should give preference to the higher time frame because there is less noise and greater accuracy there.

So we will not focus too much on the four-hour time frame. Instead we are watching the one-day time frame and waiting for Hive to move out of this crucial point and give us a bullish signal.

I hope that Hive's price will cross the EMA 200 very soon which will prove to be very helpful for this bull rally.

I hope you guys will like this post and is interesting as well. If you find it informative then dont forget to give me a support. Share you reviews in the comment section below. Thank you all for your time reading the content.

PICTURES DETAIL

REMEMBER: We should prepare for the unexpected and always hope for the best. Life may not be easy but you must do your best and leave the rest to God...