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A Falling Wedge Pattern is currently forming on the 15-minute chart for HIVE/USDT, sitting at 77.0% pattern maturity.
Key Technical Highlights: • Pattern Type: Falling Wedge • Resistance Touches (Steep): 3 • Support Touches (Shallow): 6 • Current Zone: Compressing near the apex (0.0466 USDT)
Falling Wedge structures represent contracting downside volatility as selling pressure gradually weakens. With shallow support retested 6 times near $0.0466, a volume-backed breakout above steep resistance could suggest potential bullish reversal momentum.
Following a -2.4% decline, price action established a double bottom support base at 0.0456 USDT before rallying toward the 0.04675 neckline. Price is now breaking above neckline resistance with solid volume. A confirmed 1h candle close above this level suggests potential upside continuation.
Are you watching for a breakout continuation or a retest of the neckline?