Hive Price is Ready to Break Up the Middle Line of Descending Channel
Hive price is in descending channel since 10th October. It is going down day by day. Lots of crypto touched all time low level after 10th October. Hive price is still above all time low level. There is great descending channel on Hive price chart. The middle line of this channel is the first resistance for Hive price.
Here you can see daily chart of Hive price. Hive price is going down slowly while touching the middle line of descending channel. There were mini uptrend lines on Hive price chart, you can see what happened after breaking down this mini uptrend lines.
Breaking down mini uptrend lines pattern completed. We may see revering up on Hive price chart after breaking up the middle line of descending channel.
Here you can see the indicators on daily chart of Hive price. Fisher Indicator reversed up from the bottom. It is trying to go up. There is uptrend line on MACD Indicator. It should not be broken down.
The most important bullish signals is on RSI Indicator. There is great positive divergence on RSI Indicator. The bottom level of RSI Indicator is going up but the bottom level of Hive price is going down. We should see bullish attack on Hive price after this possitive divergence.
After bullish attack Hive price may break up the middle line of descending channel. The top level of descending channel will be the next resistance on Hive price chart.
We will see..
“Great technical analysis! 📊 The descending channel on Hive is clearly shaping the short-term trend, and the positive divergence on RSI along with Fisher’s reversal signal could indicate a potential bullish breakout. Watching the middle line of the channel will be key—if Hive manages to break it, the top of the channel might become the next target. Very insightful charts and explanation! Traders who are following Hive closely, what are your thoughts on the possible breakout timing?”