Hive up 243% in 63 Days Thanks to Splinterlands
Updated
Since we saw the breakout 30 days ago, Hive is up 77%. Timing is everything and we can't thank enough Splinterlands for that. The huge number of players that this game brought to Hive is amazing. This new cashflow is putting pressure on the price, and from what a see in last Arcange and Hivetsat posts, Hive users have been powering up and more and more Hive is Withdrawn from the exchange like Bittrex and Binance. That's a great gamechanger that could bring Hive price to the height we saw Steem in 2008 (8.57$), well maybe not but we can dream.
let's quickly take a look at the charts.
From the start we can see on the volume profile chart that we have a strong support at 0.53$ and a resistance is forming at 0.596$.
On the weekly chart we can see we're still in a ascending channel. The least square moving average (blue line) is about to cross de midline (dotted line) following the one I traced meaning we can expect (if things continue this way) the price to climb to the orange Bband (0.71$), which I'm not expecting before sept. 20th... but who knows with all the new SPS players.
Next targets stay the same:
t1: 0.71
t2: 0.83
buy-in 0.42-0.53
ps potential breakout coming soon. The 13 September is not really a timeframe, I was just comparing the chart to Bitcoin, and I think we might have a better understanding of what is coming next depending on where BTC go. Obviously, if BTC bullish trend continues, Hive we'll see his previous ATH before 2022.
Thank you again for reading me.
Good luck and good Profits.
GGP
let's quickly take a look at the charts.
From the start we can see on the volume profile chart that we have a strong support at 0.53$ and a resistance is forming at 0.596$.
On the weekly chart we can see we're still in a ascending channel. The least square moving average (blue line) is about to cross de midline (dotted line) following the one I traced meaning we can expect (if things continue this way) the price to climb to the orange Bband (0.71$), which I'm not expecting before sept. 20th... but who knows with all the new SPS players.
Next targets stay the same:
t1: 0.71
t2: 0.83
buy-in 0.42-0.53
ps potential breakout coming soon. The 13 September is not really a timeframe, I was just comparing the chart to Bitcoin, and I think we might have a better understanding of what is coming next depending on where BTC go. Obviously, if BTC bullish trend continues, Hive we'll see his previous ATH before 2022.
Thank you again for reading me.
Good luck and good Profits.
GGP
Note
Oh! What a night! Hive went up all the way to 1.15 like it was nothing blasting the old ATH and reaching for the moon... almost.it's now resting at 0.88$.
Price may pullback to get fresh air (more $$$) at .70 that we're we have our first strong support. 65-67 can be a safe buying zone.
We'll have to wait to see where the daily candle closes, but we can already say that the first target we have to reconquer is 0.96$ and then we can reach for 1.15.
Is it over, will a be missing out if I don't sale my hive right now? Are we going back to .11$ ?
The true is I don't know. But I DK about you, but I' here the long term. Hive is just starting unleashing is potential.
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