Hive (HIVEUSDT) Market Overview

• Hive (HIVEUSDT) closed at 0.2244, -2.8% from 12:00 ET, amid bearish momentum and high volatility.
• Key support tested at 0.2228–0.2232, with a failed rebound attempt near 0.2246–0.225.
• High volume spikes observed during 0745–0815 ET and 1000–1015 ET, coinciding with sharp sell-offs.
• RSI overbought at ~70 early, now oversold (~30), indicating potential for countertrend bounces.
• Large bearish engulfing pattern formed at 0.2266–0.2234 during 0745 ET, signaling short-term exhaustion.

Hive (HIVEUSDT) opened at 0.2285 on 2025-08-09 at 12:00 ET and closed at 0.2244 by 12:00 ET the following day. The 24-hour high reached 0.2304, while the low hit 0.2217. Total volume for the period was 1,193,201 coins, and the notional turnover amounted to $274,929.

Structure & Formations

A bearish engulfing pattern formed at 0.2266–0.2234 during the 0745 ET hour, confirming a shift in sentiment to the downside. The 0.2228–0.2232 area appears to be a critical support zone, with a failed rebound attempt suggesting further consolidation or a breakdown could follow. A 61.8% Fibonacci retracement of the 0.2232–0.2293 swing sits at 0.2267, which could see renewed selling pressure if broken.

Moving Averages

On the 15-minute chart, price closed below both the 20 and 50 SMA, reinforcing the bearish trend. The 50-period SMA currently sits at ~0.2246, acting as an overhead resistance. On the daily chart, the 50/100/200 SMAs are broadly aligned in a descending formation, indicating a longer-term downtrend.

MACD & RSI

The MACD turned bearish during the 0800–1000 ET window, with a negative crossover and declining histogram. RSI entered the overbought territory at ~70 early in the session but has since oversold to ~30, hinting at potential short-covering or a rally back toward 0.2250–0.2255. A bullish divergence in RSI remains weak without a clear price rebound.

Bollinger Bands

Volatility increased as the 15-minute Bollinger Bands expanded during the 0745–0815 ET sell-off. Price closed near the lower band at 0.2244, indicating oversold conditions. A contraction is expected as the market consolidates, which could precede a breakout either higher or lower.

Volume & Turnover

Volume spiked dramatically during the 0745–0815 ET and 1000–1015 ET periods, coinciding with sharp price declines. Notional turnover increased in line with the volume surges, confirming the bearish price action. A divergence between volume and price near the 0.2266–0.2234 zone suggests exhaustion in the short-term selloff.

Fibonacci Retracements

Key Fibonacci levels for the 0.2232–0.2293 swing include 38.2% at 0.2261 and 61.8% at 0.2267. Price has failed to hold these levels and now appears to be targeting the 0.2228–0.2232 support. A break below 0.2228 could accelerate the downtrend toward 0.2217–0.2200.

Hive may test 0.2228–0.2232 in the next 24 hours, with a potential bounce toward 0.2246 if short-term buyers emerge. However, a breakdown below 0.2228 could trigger a retest of the 0.2217 low. Investors should monitor volume and RSI for early signs of exhaustion or renewed selling pressure.