Hive Price is Touching the top Line of Descending Channel

Hive price is in a descending channel since 10th october market crash. It is going down slowly in this channel. Lots of altcoins touched all time low level after this market crash. Hive price is still above all time low level even it is going down slowly.

Here you can see daily chart of Hive price. Hive price is close to touch the top line of this channel. It is hard to break up. If Hive price breaks up this great resistance, Hive price may enter mini bullish trend. It is still in this channel and It is going down slowly.

There is mini uptrend line on Hive price chart that support Hive price. We will see how it will support Hive price or how it will be broken down. We are at the end of trend. We will see breaking up or down.

Here you can see the indicators on daily chart of Hive price. There was great downtrend line on RSI Indicator. It was broken up a few days ago. Even it was broken up, RSI Indicator reversed down and went down this resistance. It may be a bulish trap. There was mini uptrend line on RSI Indicator. It is broken down.

There is mini uptrend line on MACD Indicator. We will see breaking down in this indicator If we see more daily red candles. You can see what happened after breaking down this mini uptrend line.

Fisher Indicator is close to bottom. It may reverse up.

Major indicator can show us possible price drop on Hive price chart. I shared a few analysis about Bitcoin price chart and It also show us possible price drop.

Market maker is trying to make a bullish trap. This is why this reversing down takes long time.

We will see..

Posted Using INLEO