- The sentiment of the HIVE crypto is bearish, as per Coicodex.
- The trading price of the crypto has witnessed a substantial decline in the last two days.
Hive (HIVE) is the primary token of the Hive blockchain, a decentralized platform emphasizing community-driven content creation and engagement. Users stake HIVE for governance and earn rewards for content curation.
HIVE is also used for resource credits within various dApps and games on the platform. It emerged from a collective effort of Steem community members in 2020.
According to the latest data, Hive crypto is ranked #313 per CoinMarketCap, with a market capitalization of $162.113M. In the last 24 hours, the market cap of the crypto has declined by 9.3%.
The traded volume for the crypto has also declined by 79.6% over the last 24 hours at press time. It shows a decline in crypto’s trading activity. Additionally, the value of the traded volume for the crypto is $30.222M.
The HIVE crypto has excellent liquidity, as 23.5% of the market cap has been traded in just the last 24 hours. Also, the market cap dominance of the crypto is 0.01%. The price volatility of the crypto further is medium.
IntotheBlock shows that 13% of the holders of the HiveTerminal token are making money, while 87% of investors are out. When writing, the circulating crypto supply is 500.749M HIVE.
Moreover, the maximum supply of the crypto is infinite, and the fully diluted market cap of the crypto is $161.99M.
The all-time high price recorded for the HIVE crypto is $3.42, achieved on November 26, 2021. Since then, the price of crypto has declined by 90.68%.
Also, the all-time low price of the crypto was achieved four years ago, and the price of the crypto has advanced by 266% from the all-time low price.
HIVE Crypto Technical Analysis
![](https://victoriaspence.com/wp-content/uploads/2024/05/1715616100_618_Will-HIVE-Crypto-Explode-on-the-Higher-Side-in-the.png)
The price of the HIVE crypto has faced resistance from a dynamic trendline on the higher side. Also, a crucial support is built on the lower side.
The following behavior of the price has led to the formation of a descending triangle pattern. The crypto price is trading inside the pattern, and recent price action shows sellers’ dominance.
If the price of HIVE crypto further breaks above the triangle pattern with good volume, a change in the bullish trend might be seen in the crypto price.
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HIVE/USD Chart by TradingView
The death crossover of the 50-day and the 200-day EMAs is formed on the daily chart. It shows a strong bearish trend in the crypto price. The price of the crypto has also declined below those EMAs.
The MACD indicator gives a neutral signal on the chart as the MACD and the signal line are trading in a negative territory. Despite this, the MACD and the signal line are trading in a bullish cross.
The RSI shows volatility in the crypto price as the RSI is hovering in higher ranges, and a recent spike led to a surge above the 50 level, but the value of the RSI again declined to the level of 46.
Summary
The sentiment for HIVE crypto remains uncertain as it faces resistance and a descending triangle pattern.
Technical indicators show a strong bearish trend, with a death cross on the daily chart. While a breakout with volume could signal a bullish reversal, current market conditions suggest continued volatility and potential downside.
The support levels for the HIVE crypto are $0.1650 and $0.2640, while the resistances situated at the higher level are $0.410 and $0.4780.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
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