Hello Hivers, Hive token is now on a strong support and I believe that this level ($1.30) will probably bounce back the price. This is a good level for those who wants to buy hive token cheaper and add more position to your hive wallet (power up).
If this level is broken, then the next strong support would be $1.05 level. Good thing about this correction is that there's no big volume supporting it. It means that many people don't want to sell their token yet at this level. Many people are still holding the token for the next big rally. The reason for the correction probably because, yes, not many people are selling their token. But! many people are still not yet want to buy on this level $3.5 to $1.5 since they think this is still expensive.
Yeah like me, If I we're to buy, I want to buy Hive below $1.
As of now my strategy is to power down 1,500 of my HP to make it as a liquid hive. This liquid hive will be ready to sell once the price of hive rally near all time high. This will give me a good amount of USDT/HBD to buy back more hive when the price get a correction.
As you can see on weekly chart of Hive token:
The next strong support is around $1.05 If I have a money and want to add more hive on my HP (for DCA). I would recommend to buy half of your buying power on $1.30 then buy again if the price hits $1.05. This level will likely to hold. We don't want the price to go up immediately, what we want is to form a base and consolidation. This will make the uptrend stronger and make a new all time high.
Happy investing HIVERS! The goal is to accumulate more hive. Let's go 15,000 HP! :)
If anyone wants to share your opinion about the technical analysis, feel free to comment below.