Hive Analysis with Bollinger Band

Bitcoin price has been on an upward trend for a long time. We are at the highest price level in 2021. It's not overtaken too harshly. This price level, which could not be exceeded twice in 2021, has now emerged as a serious resistance. If this point is overcome, it will turn into very serious support in the future. I no longer have any doubts about the bull season; of course, we need to be prepared for pullbacks.

Hive price has not increased enough compared to other altcoins. Still, it has increased by nearly 30% in the last two weeks. Since Hive is one of the old coins, it usually hides its sharp rise towards the end.

(Tradingview Hive/USDT 1D chart)

In the Bollinger band, the lower band shows the price at $0.296, the middle band shows the price at $0.384, and the upper band shows the price at $0.468. The current hive price is $0.439. We are close to the upper band, it has been like this for a long time. This shows that the price is going upwards.

Since Hive price moves according to BTC price changes, it is useful to follow BTC for direction determination.