HIVE, ready for a new Bull Market
HIVE (HIVE Digital Technologies)
Sector: Data Center / Bitcoin Mining
Market Cap: 386M
HIVE, being a company operating in the cryptocurrency sector sees its share price highly correlated to cycles triggered by Bitcoin. Indeed, the share price exploded at the beginning and end of 2021, just like Bitcoin, before undergoing 2 years of Bear Market.
During this Bear Market, the stock was able to maintain its price and accumulate horizontally, oscillating in a highly visible range. The fact that the share price has not fallen continuously shows the interest of long-term investors in this company.
We note that we are very close to the lower limit of this range and that we have recently bounced off it, which is a good sign and offers us an excellent risk/reward ratio. If the macro context for stocks and cryptos is good, we could even break out of this range on the upside to seek even higher resistance levels over the next year.
Sector: Data Center / Bitcoin Mining
Market Cap: 386M
HIVE, being a company operating in the cryptocurrency sector sees its share price highly correlated to cycles triggered by Bitcoin. Indeed, the share price exploded at the beginning and end of 2021, just like Bitcoin, before undergoing 2 years of Bear Market.
During this Bear Market, the stock was able to maintain its price and accumulate horizontally, oscillating in a highly visible range. The fact that the share price has not fallen continuously shows the interest of long-term investors in this company.
We note that we are very close to the lower limit of this range and that we have recently bounced off it, which is a good sign and offers us an excellent risk/reward ratio. If the macro context for stocks and cryptos is good, we could even break out of this range on the upside to seek even higher resistance levels over the next year.
💥 Free signals and ideas ➡ t.me/vfinvestment
💥 Free signals and ideas ➡ t.me/vfinvestment
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