Hive Price Prediction — Will HIVE Hit $2 Soon?
- Bullish HIVE price prediction is $1.27 to $1.92.
- The HIVE price will also reach $2 soon.
- HIVE bearish market price prediction for 2022 is $0.5.
In Hive’s (HIVE) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about HIVE to analyze the future movement of the cryptocurrency.
Hive Current Market Status
According to CoinGecko, the price of HIVE is $0.964 with a 24-hour trading volume of $6,313,846 at the time of writing. However, HIVE has decreased nearly 4.9% in the last 24 hours.
Moreover, HIVE has a circulating supply of 371,261,453 HIVE. Currently, HIVE trades in cryptocurrency exchanges such as Binance, Mandala Exchange, Huobi Global, Gate.io, and MEXC.
What is Hive (HIVE)?
Hive is an open source blockchain that originated from the hard fork of Steem blockchain (STEEM). It was created to bring Web 3.0 to the world as a platform for decentralized applications (DApps) and social interaction. The main goal of the hive is to create a robust ecosystem that is fully decentralized, fast, and unchanging.
Hive (HIVE) Price Prediction 2022
Hive holds the 181st position on CoinGecko right now. HIVE price prediction 2022 is explained below with a daily time frame.
The triangle chart pattern shows the period of consolidation that may force a price breakdown or breakout. More so, a breakdown from the lower trendline indicates the beginning of a new bearish trend. On other hand, a breakout from the upper trendline signal shows the beginning of a new bullish trend. Traders also use moving averages in conjunction with a symmetrical triangle chart pattern to trail their stop loss.
Currently, HIVE is in the range of $0.968. If the pattern continues, the price of HIVE might reach the resistance level of $1.27 and $1.44. If the trend reverses, then the price of HIVE may fall to $0.71.
Hive (HIVE) Support and Resistance Level
The below chart shows the support and resistance level of HIVE.
From the above daily time frame, it is clear the following are the resistance and support levels of HIVE.
- Resistance Level 1 – $1.29
- Resistance Level 2 – $1.92
- Resistance Level 3 – $3.11
- Support Level 1 – $0.97
- Support Level 2 – $0.70
- Support Level 3 – $0.50
The charts show that HIVE has performed a bullish trend over the past month. If this trend continues, HIVE might run along with the bulls overtaking its resistance level at $3.11.
Accordingly, if the investors turn against the crypto, the price of the HIVE might plummet to almost $0.50, a bearish signal.
Hive Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of HIVE is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of HIVE lies below the cutoff line, indicating weaker participants in the current trend.
More so, the HIVE’s Moving Average (MA) is shown in the chart above. Currently, HIVE is in a bearish state. Notably, the HIVE price lies below 50 MA (short-term), so it is HIVEletely in a downward trend. Therefore, there is a possibility of a reversal trend of HIVE at any time.
Meanwhile, the relative strength index (RSI) of the HIVE is at level 40.92. This means that HIVE is in a nearly oversold state. However, this means a major price reversal of HIVE may occur in the upcoming days. So, traders need to trade carefully.
Hive Price Prediction 2022 — ADX, RVI
Let us now look at Hive’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Hive. Currently, HIVE lies in the range of 16.16, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of HIVE. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of HIVE lies below the 50 levels, indicating that the direction of volatility is low. In fact, HIVE’s RSI is at 40.92 level thus confirming a potential sell signal.
Comparison of HIVE with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Hive.
From the above chart, we can identify the trend of the ETH, BTC, and HIVE is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and HIVE also increases or decreases respectively.
Conclusion
With continuous improvements in the Hive network, we can say that 2022 is a good year for HIVE. For this reason, the bullish price prediction of Hive in 2022 is $1.92. On the other hand, the bearish HIVE price prediction for 2022 is $0.5.
Furthermore, with the advancements and upgrades on the HIVE ecosystem, the performance of HIVE would help to reach above its current all-time high (ATH) $1.27 very soon. But, it might also reach $2 if the investors believe that HIVE is a good investment in 2022.
FAQ
HIVE is a cryptocurrency with key features that support content-based decentralized blogging sites, but also empowers an incredible amount of financial and social projects.
HIVE has listed on many crypto exchanges which include Binance, Mandala Exchange, Huobi Global, Gate.io, and MEXC.
With the ongoing developments and upgrades within the HIVE platform, it has a high possibility of reaching its ATH soon.
On Nov 26, 2021, HIVE reached its new all-time high (ATH) of $3.41.
Hive (HIVE) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of HIVE in the past few months, HIVE is considered a good investment in 2022.
Hive (HIVE) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Hive (HIVE) will hit $2 soon.
Hive (HIVE) price is expected to reach $3.2 by 2023.
Hive (HIVE) price is expected to reach $5 by 2024.
Hive (HIVE) price is expected to reach $7.5 by 2025.
Hive (HIVE) price is expected to reach $9 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
The post has appeared first on thenewscrypto.com
Read more: https://thenewscrypto.com/hive-price-prediction
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
