Using the Bollinger Band for Hive Analysis

In recent days, the cryptocurrency industry has seen an increase in the quantity of unfavorable news reports. Most recently, hackers took over 400,000 Ethereum and some of its derivatives from the Bybit exchange's cold wallet. The assets are worth around $1.50 billion in total. Among the largest hacks in cryptocurrency history is this one. Price reductions resulted from this occurrence. The Bybit exchange's excellent process management stopped the price decline from getting worse. Despite the fact that the FTX exchange was not hacked, management' lack of foresight caused this incident to have a significant impact on the industry.

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Another piece of bad news is on the horizon for the bitcoin industry. The locks on 11.2 million SOLs will be unlocked on March 1. It goes without saying that the market will see selling pressure as a result. We may assume that this has affected the latest decreases as well.Hive has resisted rather well in spite of the criticism in the industry. In actuality, on the days when the price dropped, Hive's price went up. Because of the current low volatility, daily trade volumes have decreased. The amount of daily transactions has dropped below $10 million.

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The Bollinger Bands also make it easy to see how low Hive's volatility is. There is a narrowing of the Bollinger Bands. Eventually, the Hive price was able to go over the Bollinger Bands' middle band. It is somewhat above the center band, though. There is a chance that it will drop once again. The Bollinger Bands are now showing no indication. I may, however, sell Hive for about 10% if the price hits the top band ($0.355), as long as I purchase it back.