Hello all! As you might know, Hive is a fork of the Steem blockchain. After an amazing bull-run, that was likely fed by the news the coin got listed on a few big exchanges. Hive price is now correcting that rocket move. What's next?
Price is as of time of writing 6900 sats, with all-time high 12830 sats on Bittrex.
The Fibonacci retracement of 50% (at 7k sats) couldn't hold and the price is now further declining towards the 61.8% at 5830 satoshi.
If fib level at 5800 doesn't hold, price will have the next support at 4000 sats, the 78.6% retracement level.
As nothing changed much except for more liquidity, we predict that the price will fall to 4k sats. Lets wait and see if the 61.8 holds and prices bounced of that level.
Short term price prediction: 4000 sats
We dont have to look at other indicators because the coin is too new. Only price action matters and that indicates further decline.
NOT FINANCIAL ADVICE
