Hive (HIVEUSD) Price Forecast: December 23
The HIVEUSD pair shows sign of resurgence as it remains strong above the resistance area at the $0.379 level, registering a buy signal for the coin holders. In case the bulls’ pressure breaks up the resistance level of $0.451, the coin price may increase further to a $0.500 high trend line, suggesting a potential buy opportunity for the coin holders.
Key Levels:
Resistance Levels: $0.378 $0.379, $0.380
Support Levels: $0.229, $0.228, $0.227
HIVE (USD) Long-term Trend: Bullish (Daily Chart)
HIVEUSD remains strong above the resistance level, indicating a bullish trend in the higher time frames. The price bar is above the moving average line, indicating a strong bullish trend. However, the recent market has favored the bulls.
The coin price has been making higher highs and higher lows in previous actions, sustaining the HIVEUSD price above the resistance zone.
The HIVEUSD price finds a reliable resistance at around $0.379 above the EMA, resulting in intraday gains. Hence, staying above the resistance trend lines indicates a strong possibility for a bullish correction.
The Hive pair however shows the continuation of bullish sentiment as it remains strong above the resistance zone. Sellers look exhausted while the price of HIVEUSD remains above the $0.300 supply value as the price continues its upward trajectory. However, the downside risk remained uncertain. Thus, the next bulls’ target might be the $0.500 high level in the days ahead in its long-term outlook.
HIVE (USD) Medium-term Trend: Bullish (4H Chart)
Despite the interference of short-term traders in the HIVEUSD price flow, the medium-term time frame market remains strong above the resistance zone, denoting a bullish trend.
The sustained bullish pressure at the $0.264 level in the last session has made it easier for the crypto to remain strong above the resistance zone in its recent high.
Today, as an outcome of low bearish momentum, the price action of Hive rose to a high at $0.374 level above the moving averages on the 4-hourly time frame.
However, if the buy traders successfully keep the coin prices above a $0.429 high value, a retest of the previous high at the $0.451 level is possible soon.
However, there is a possibility of a further increase in the price of HIVEUSD, if the buy traders increase their price actions and all the current support level holds, a psychological level at the $0.500 supply level might be reached soon in its medium-term time frame.
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