Hive (HIVEUSDT) Market Overview

Summary
• Hive surged to $0.2471 but retraced to $0.228, closing at $0.2319 (+0.3%).
• Total volume reached 3,127,040 HIVE, with a $123,349 turnover spike during the rally.
• Key resistance at $0.245–$0.247 and support at $0.23–$0.228.

Opening Narrative

Hive (HIVEUSDT) traded between $0.228 and $0.2471 over the past 24 hours, closing at $0.2319. Total volume amounted to 3,127,040 HIVE, with a notional turnover of $123,349. The 24-hour session began at $0.2395 (open) and concluded at $0.2319 (close at 12:00 ET).

Structure & Formations

The price spiked sharply on July 15 to $0.2451, forming a large bullish candle before reversing into a bearish engulfing pattern over the next three periods. Subsequent trading tested the $0.23 support zone, which held during the $0.228 low. A doji appeared near $0.2315 on July 15 12:30 ET, signaling indecision. Fibonacci retracements from the $0.228–$0.2471 swing highlight $0.235 (38.2%) and $0.239 (61.8%) as critical pivots.

Moving Averages

• 15-min chart: The 20-period SMA (~$0.232) holds near the closing price, while the 50-period SMA (~$0.234) acts as resistance.
• Daily chart: The 50-period SMA (~$0.235) and 100-period SMA (~$0.236) remain bullish but diverge from the recent retracement.

MACD & RSI

• MACD: Crossed below its signal line (both above zero), suggesting weakening momentum.
• RSI: Retracted from overbought levels (70+) to neutral territory (~48), indicating exhaustion after the rally.

Bollinger Bands

• The price touched the upper band during the $0.2451 rally before contracting into the mid-range near the closing SMA. Current volatility is neutral, with price hugging the lower half of the bands.

Volume & Turnover

• Volume surged to 1.9 million HIVE during the $0.2451 rally (July 15 00:15 ET) but declined sharply afterward.
• Turnover peaked at $65,820 during the same period, showing strong buyer conviction.

Fibonacci Retracements

• A $0.228–$0.2471 swing places key support at $0.235 (38.2%) and resistance at $0.239 (61.8%).

Forward Outlook

Hive may retest $0.23 support before challenging $0.235 resistance. Traders should monitor volume confirmation on upward moves; a close above $0.245 could signal renewed momentum. Caution is advised as volatility remains elevated, with risks of further retracement below $0.23.