HIVE: Bullish Bounce or Neutral Stance?

HIVE coin has rebounded from support at $0.3500, with buyers attempting a reversal. Despite a 3.67% intraday drop to $0.3831, the coin maintains neutrality on charts. Monthly and yearly return ratios stand at 14.30% and 19.19%, respectively. Price volatility has decreased, with the volatility curve near 0.011. Social dominance has increased, but active users have declined. Technical analysis suggests potential for a retracement in the short term, but HIVE may still retain bullish momentum above $0.4300.

HIVE: Bullish Rebound or Neutral Outlook?

The HIVE (HIVE) coin has exhibited a rollercoaster ride, with a significant retest of the $0.3200 support level. Buyers have held their ground and are attempting a reversal. However, the question remains: is this a sustained recovery or just a temporary respite?

HIVE Price Action: Ups and Downs

The HIVE coin has experienced a wild swing in prices this month. Bulls initially surged, pushing gains above 50%. However, sellers stepped in, wiping out nearly 25% of those gains. At the time of writing, HIVE is trading at $0.3831, down 3.67% intraday, indicating a neutral market sentiment.

Volume and Neutrality

The HIVE price-to-volume profile suggests neutrality. The trading volume has declined over 45% to $4.79 million, indicating a lack of conviction among traders. The sharp price swings have led to intense fluctuations, with the coin retesting the 20-Day EMA.

Volatility and Sentiment: Mixed Signals

The volatility curve for HIVE has seen significant fluctuations, reflecting the sharp price swings. It currently stands at 0.011, down over 220% in the past 24 hours. However, the sentiment remains negative, hovering below -0.22 on the midline.

Social Dominance and User Activity: Decline

According to Santiment data, HIVE's social dominance has increased by over 45% this week. However, active users on Telegram and X have dropped significantly, indicating a decline in investor interest.

Technical Analysis: Support and Resistance

The HIVE coin price is currently trading above the 23.6% Fibonacci zone and the neutral trajectory. Support levels lie at $0.3800 and $0.3650, while resistance levels are at $0.4000 and $0.4200.

Outlook: Uncertain

The HIVE coin's outlook is uncertain. While it has shown a rebound from the support zone, the negative sentiment and declining user activity raise concerns. Analysts suggest that HIVE may retest $0.4500, but a sustained recovery remains questionable.

Disclaimer: The views expressed in this article are solely for informational purposes and do not constitute financial advice.