Hive Technical Chart Analysis for April 8th 2020: HIVE PRICE - 0.375 USD

In these posts we will analyze the technical charts for Hive at the time of posting, usually around late morning Eastern Standard Time. We will focus on the daily and hourly charts to get early indicators and a good idea of where the market is going.

The Daily Chart is on a Buy Signal.

The bullish engulfing pattern from five days is still in play. The rising support line is holding with the price bouncing perfectly off of it. Based on this chart alone we are bullish. Let's have a closer look with the hourly chart.

The Hourly Chart is nuetral.

Again you can see more clearly the rising support holding. However upside is being contained by the black resistance line at about .38. The stochastics are overbought and crossing over and the momentum on the linear regression is still down.

Conclusion

Traders and investors should wait for a break out from the rising wedge pattern. An hourly close (or two to be safe) above the .38 resistance line will give a green light that prices are likely to go higher. If the price breaks to the down side, look to buy at the .30 support area.

Chart from: Tradingview.com