Market Overview for Hive/Bitcoin (HIVEBTC) on 2026-01-07

Summary
• Price tested and held above 1.08e-06 support, forming bullish engulfing patterns in late trading hours.
• Increased volume in overnight hours signaled strong buying pressure and a potential reversal.
• RSI suggests moderate momentum, while Bollinger Bands show a recent volatility expansion.

Hive/Bitcoin (HIVEBTC) opened at 1.09e-06 on 2026-01-06 12:00 ET, reached a high of 1.17e-06, and a low of 1.07e-06, closing at 1.14e-06 by 12:00 ET the following day. Total 24-hour trading volume amounted to 103,013.0 units, with notional turnover of 0.1165 BTC.

Structure & Formations

Price found key support at 1.08e-06 and rallied, with a bullish engulfing pattern forming around 01:30–01:45 ET. A doji appeared at 05:15 ET, signaling indecision. On the daily chart, the 50-period SMA is approaching a bullish cross above the 100-period SMA, suggesting a potential upward shift.

MACD & RSI

The 12/26/9 MACD showed a positive divergence after 04:00 ET, aligning with the price rally. RSI moved from 35 to 55 during the session, indicating improving momentum, but remains below overbought territory.

Bollinger Bands

Bollinger Bands saw a sharp expansion overnight as volume increased. Price spent most of the day within the upper band, especially during the 01:00–04:30 ET period, suggesting heightened volatility and bullish conviction.

Volume & Turnover

Trading activity surged between 01:30 and 05:30 ET, with volume peaking at 19,617 units during the 11:00 ET close. Notional turnover closely mirrored the volume increase, validating the price action with liquidity support.

Fibonacci Retracements

A 61.8% retracement level was observed at 1.13e-06, which was briefly tested before a breakout. On the daily timeframe, the pair is consolidating near the 50% retracement level of its recent major swing, hinting at potential continuation or consolidation.

Market participants may see further consolidation or a test of the 1.17e-06 high in the next 24 hours if bullish momentum sustains. However, a drop back below 1.12e-06 could trigger a reevaluation of the short-term uptrend. Investors should monitor volume for confirmation of any directional move.