$HIVE /USDT Shows Early Recovery Signs After Sharp Sell-Off
#HIVE /USDT is currently trading near the 0.0816 level after experiencing a volatile session marked by a sharp dip and a quick rebound. The price recently tested the 0.0774 area, which acted as a strong intraday support and triggered a bounce, suggesting buyers are actively defending lower levels. This move followed a rejection from the 0.0836 zone, which remains a key short-term resistance and aligns with previous local highs.
On the 1-hour timeframe, price action is consolidating around its short-term moving averages. The MA(7) and MA(25) are clustered near the current price, indicating a neutral-to-slightly bullish bias, while the MA(99) above price highlights that the broader trend is still under pressure. A sustained move above the 0.0825–0.0830 region could open the door for a stronger recovery, while failure to hold above 0.0800 may invite renewed selling pressure.
Volume data shows healthy participation during the rebound, hinting at short-covering and opportunistic buying rather than a fully established trend reversal. From a broader perspective, HIVE remains in a longer-term downtrend, as reflected by its negative performance over the past 30, 90, and 180 days. However, the recent higher low formation suggests the possibility of a short-term relief rally if market sentiment remains stable.
Traders should closely watch the 0.0800 support and 0.0835 resistance levels. A breakout or breakdown from this range is likely to define the next directional move, with risk management remaining crucial due to ongoing volatility.
