Hive Analysis with Bollinger Band

There was no significant development in the cryptocurrency industry this week. The news that attracted attention was the news of Ripple issuing stablecoins and miners reducing their bitcoin sales.

Bitcoin completed its weekly closing at a very good level. We haven't seen weekend drops lately, which is important. Current bitcoin price is $70,763.

Current hive price is $0.409. It has been stuck between $0.33-$0.50 recently. If it exceeds this zone, the price increase will become stronger. It looks like this is a liquidity zone. Of course, hive's expected increase will happen eventually. What we need to do is wait patiently for this and accumulate hive.

(Tradingview Hive /Usdt 1D chart)

Hive price is just above the middle band on the Bollinger band. It is important that it is above the middle band, it will want to climb up to the upper band. If it becomes permanent above the middle band, a price increase of at least 10% awaits us.

There is a correlation between Hive price and bitcoin price. That's what's important. Increases in Bitcoin price also affect Hive. Therefore, it is necessary to follow the bitcoin price closely.