HIVE Price: Is This A Bottomless Pit?

Not hard to decipher based on current trend and market structure that the price remains in a bearish trend on higher time frames. We've witnessed this in the past with Steem where the token constantly shed value and the same repeats now with Hive.

There were a couple of instances where the price action stood a chance to change the trend by breaking away from its bearish market structure but we are far from that currently.

Many alts have had a fantastic year so far and have been bleeding only after posting insane price rallies. Many are still up significantly despite steep corrections. Hive had one major rally upon its Huobi/Binance listing to $1 and has only bled ever since down to 11cents. It's down 89% from ATH within a year of its listing!

Doesn't seem like it would be long before we break 10c and back into the single digit area. Quite sad but that's highly probable, especially if Bitcoin corrects a little from current price levels.

It has been moving in the parallel channel highlighted in this post and is close to breaking lower as the bounce has been very weak so far.

Anyway, it would be great if the price bottoms out by December. Alts have generally rallied from mid-December historically. It would be great to see HIVE turn around and pump hard when the rest of the alt coin market which is starting to look bottomed out starts mooning!