HIVE long,medium,short-term plans. Technical and fundamental
Hello, friends! This is Shark, and today we'll be discussing the technical and fundamental analysis of HIVE stocks (a mining company). We'll explore long-term, medium-term, and short-term plans.
Technical Analysis:
Long-term Trading Plan (pink color)
Timeframe: 1 month
Global support level: $1.50
Global resistance level: $26.25
Channel step: 1650%
Notice the global ascending trend line drawn through the minimum price values. Currently, the asset's price has exceeded it, indicating a potential drop. The long-term scenario will be activated once the asset's price breaks below the support of this ascending trend line.
Medium-term Trading Plan (blue color)
Timeframe: 1 week
Resistance level: $7.18
Support level: $2.20
Channel step: 226%
Pay attention to the ascending trend line drawn through the lows. It's drawn on the weekly timeframe, and currently, the price is at its support, presenting the best time to buy this stock. The potential for medium-term trading is 226%. Also noteworthy are the decreasing highs, through which a descending trend line is drawn, forming a graphical structure of a "flag" or "contracting triangle," indicating an accumulation phase. Aggressive purchases should be considered above the $2.77 level.
Short-term Trading Plan (yellow color)
Timeframe: 1 day
On the chart, a descending trend line of yellow color is drawn. As long as the price stays below it, the trend is downward, and all levels marked on the daily timeframe are resistances. The potential for short-term trading to all levels is indicated. It's also worth noting the significant support level formed by the gap, presenting the best opportunity to buy the asset, as there's a market rule that aggressive asset growth should occur after covering all gaps. The short-term buying plan will be activated upon breaking the descending trend line.
Fundamental Analysis:
Mining Industry:
HIVE Blockchain Technologies is a company specializing in cryptocurrency mining, such as Bitcoin and Ethereum. Therefore, the fundamental state of the cryptocurrency market as a whole will heavily influence HIVE stocks.
Cryptocurrency Price Dynamics:
Changes in cryptocurrency prices, especially Bitcoin and Ethereum, will significantly impact the profitability of mining companies, including HIVE. High cryptocurrency prices usually lead to increased miner profitability, which can result in HIVE stock price growth.
Technological Innovations:
HIVE's success will also depend on its technological innovations and ability to enhance mining efficiency. Investors will be monitoring the company's new developments and improvements in equipment and software.
Cryptocurrency Regulation:
Changes in cryptocurrency legislation and regulation can have a significant impact on HIVE's business. Positive decisions or support from authorities can promote the company's growth, while negative measures may adversely affect its prospects.
Historical Events:
The company's past successes and failures can also influence its future value. Investors will analyze HIVE's history, including its financial results, strategies, and response to market changes, to make forecasts regarding its future success.
Considering these factors, investors should carefully assess the risks and opportunities associated with investing in HIVE stocks and make decisions based on a comprehensive analysis of the company's fundamental and technical aspects, as well as the cryptocurrency market as a whole.
If you enjoyed the review and would like more similar ideas, please like! Share your opinion on this asset in the comments below. Don't forget to subscribe to the channel to not miss new videos and updates. Thanks for watching, see you soon!
Technical Analysis:
Long-term Trading Plan (pink color)
Timeframe: 1 month
Global support level: $1.50
Global resistance level: $26.25
Channel step: 1650%
Notice the global ascending trend line drawn through the minimum price values. Currently, the asset's price has exceeded it, indicating a potential drop. The long-term scenario will be activated once the asset's price breaks below the support of this ascending trend line.
Medium-term Trading Plan (blue color)
Timeframe: 1 week
Resistance level: $7.18
Support level: $2.20
Channel step: 226%
Pay attention to the ascending trend line drawn through the lows. It's drawn on the weekly timeframe, and currently, the price is at its support, presenting the best time to buy this stock. The potential for medium-term trading is 226%. Also noteworthy are the decreasing highs, through which a descending trend line is drawn, forming a graphical structure of a "flag" or "contracting triangle," indicating an accumulation phase. Aggressive purchases should be considered above the $2.77 level.
Short-term Trading Plan (yellow color)
Timeframe: 1 day
On the chart, a descending trend line of yellow color is drawn. As long as the price stays below it, the trend is downward, and all levels marked on the daily timeframe are resistances. The potential for short-term trading to all levels is indicated. It's also worth noting the significant support level formed by the gap, presenting the best opportunity to buy the asset, as there's a market rule that aggressive asset growth should occur after covering all gaps. The short-term buying plan will be activated upon breaking the descending trend line.
Fundamental Analysis:
Mining Industry:
HIVE Blockchain Technologies is a company specializing in cryptocurrency mining, such as Bitcoin and Ethereum. Therefore, the fundamental state of the cryptocurrency market as a whole will heavily influence HIVE stocks.
Cryptocurrency Price Dynamics:
Changes in cryptocurrency prices, especially Bitcoin and Ethereum, will significantly impact the profitability of mining companies, including HIVE. High cryptocurrency prices usually lead to increased miner profitability, which can result in HIVE stock price growth.
Technological Innovations:
HIVE's success will also depend on its technological innovations and ability to enhance mining efficiency. Investors will be monitoring the company's new developments and improvements in equipment and software.
Cryptocurrency Regulation:
Changes in cryptocurrency legislation and regulation can have a significant impact on HIVE's business. Positive decisions or support from authorities can promote the company's growth, while negative measures may adversely affect its prospects.
Historical Events:
The company's past successes and failures can also influence its future value. Investors will analyze HIVE's history, including its financial results, strategies, and response to market changes, to make forecasts regarding its future success.
Considering these factors, investors should carefully assess the risks and opportunities associated with investing in HIVE stocks and make decisions based on a comprehensive analysis of the company's fundamental and technical aspects, as well as the cryptocurrency market as a whole.
If you enjoyed the review and would like more similar ideas, please like! Share your opinion on this asset in the comments below. Don't forget to subscribe to the channel to not miss new videos and updates. Thanks for watching, see you soon!
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