At the time of writing, HIVE is being traded at the price of $1.71. The price of HIVE has increased by almost 13.57% in the past 24 hours. The maximum and minimum of the day are around $1.84 and $1.46. The daily trading volume has also increased by almost 7.01% in one day. HIVE is listed on coinmarketcap at 121st spot according to market capital and has a market dominance of about 0.03%.
HIVE before the crash had achieved its all-time high around the price of $1.050 in March 2021. During the crash, the price created a bottom and dropped down to $0.1652. As compared to other coins HIVE has been one of the fast gainers and it wasn’t long before it went on to create a new all-time high at the price of $3.4141 during the month of November
The coin has a total supply of around 381M tokens and has the same amount of coins in circulation i.e. 381M. HIVE can be traded at a lot of different exchanges such as Binance, Mandela, Upbit, Huobi with different trading pairs.
Technical Analysis – HIVE
On the 4H time frame, we can see that HIVE had been moving in a descending channel for quite some time. The price was bearish after it failed to create a new higher high. Since then the price was respecting the trend line and we got to see it react to the trend line as well.
After the sudden drop in the price of BTC, we saw a decrease in the price as well and a quick wick down was observed. This wick was quickly picked up by the traders and the price closed inside the trend line.
Now a point of interest is the order block that is created at the bottom. Even though, the price has grabbed the liquidity below. We can still expect this unmitigated area to drive the price down. As a result, if this level holds, we can look for a possible entry by taking into account other confluences as well.
Price Prediction
Hive (HIVE) has been one of the highly bullish coins in the market. According to wallet investor, in one year is expected to reach a value of $2.980. In five years, it is expected to touch $8.637. This is almost five times the current price.
