Hive April 2021 power up day empowering power up post

avatar of @shawnlauzon
Shawn Lauzon
2 min read

It's April power up day!

This is my first power up day since (re-)discovering Hive from my old Steem account. I'm happy to be able to power up some HIVE that I purchased way back in the day when it was 39 cents (it had dropped to 36 cents at that point and I was upset at the drop, silly me)

This is nearly double my previous HP amount. I have to admit, it feels like cheating to buy HIVE and then only power it up on today. But if not for this day, it would still be sitting in my wallet as liquid HIVE.

I have some more to power up, but I'm holding them for another project I'm planning on launch in a month or so.

Hive price outlook

I thought I would share a bit of Technical analysis for HIVE. The 1D chart is in a very bullish trend, above both the 13 and 20 day EMA. At $.078 it seems a bit overpriced right now, so I would expect some profit taking down to about the 0.70 position.

HIVE 1 day chart (each candlestick represents 1 day of price action)

However, the longer trendline brings us down to the 0.48 mark, and so a retracement to that level is possible as well. I believe this depends on whether there was a fundamental change on March 23rd, being the first day of the increased upward slope of the 2nd trendline.

The fact that we have held the approx 0.76 mark for a few days now brings me to believe that unless BTC takes a nosedive, we won't get back down to the longer term trendline. And of course regardless, we're still bullish, so even it get does do that drop, such losses from purchases made today would be recovered in I'm guessing 30 days.

Happy #hpud everyone!

Posted Using LeoFinance Beta