HIVE Token Jumps 3x from Breakout: $1 Target in Sight for Bulls 

• HIVE tripled in value after a major breakout from long-term resistance.  
• Key support levels and rising demand are fueling its price rally.  
• The $1 target is within reach as momentum and interest remain high.  

HIVE token has taken the cryptocurrency market by storm, surging a shocking 217% from its accumulation zone. From a modest entry price of $0.23, HIVE has soared to $0.601, marking a breathtaking 3x return for investors in mere weeks.  

Crypto Patel, a well-known analyst, had previously identified this explosive potential in November 2024, and his bold predictions seem to be materializing. With targets of $1 and $2 on the horizon, could HIVE be the next big altcoin rally to shake the market?

Key Levels Driving the Surge

The weekly chart paints a compelling picture of HIVE’s bullish breakout. The token decisively broke above a descending resistance trendline that had suppressed its price since mid-2022. This breakout and strong support at the $0.28–$0.30 accumulation zone laid the foundation for its meteoric rise. 

The green support box, highlighted on the chart, served as a launchpad, with buyers flooding in as HIVE approached this critical range. HIVE smashed through the $0.4692 resistance level on its upward trajectory, turning it into new support. 

The following resistance zones are clearly defined: $1.2035 and $2.2668. These levels represent the following psychological barriers, and the chart suggests that the current bull run could push the token to these heights if market momentum remains intact.

Technical Breakout Sparks Frenzy

The breakout saw HIVE’s price skyrocket by 78% in just 24 hours, drawing significant attention from traders and investors. The volume also spiked to 76.53 million, indicating robust participation in the rally. 

Crypto Patel’s earlier call, posted in November 2024, emphasized the accumulation phase and hinted at a potential 20x return. While those lofty predictions remain speculative, the 3x return has validated his analysis.

With a gain of 0.4738 points since its accumulation phase, the token’s bull rally is a textbook example of how technical analysis and patient market participation can yield impressive rewards. As Patel noted, “Take some profits and stay in the safe zone while the trend is hot!”—a sage reminder to traders riding the wave.

What’s Next for HIVE?

The $1 mark is now within striking distance, with the token needing a modest 66% gain from its current price of $0.601. Should it breach this level, $2.2668 will act as a beacon for bulls aiming to capitalize on the bull market’s momentum. Crypto Patel’s analysis underscores that HIVE’s potential remains strong, but traders should remain cautious as the market could face pullbacks near key resistance zones.

However, the broader market conditions will play a crucial role. The bullish sentiment surrounding HIVE could be amplified if Bitcoin and Ethereum maintain their upward trends, drawing more liquidity into altcoins.

Closing Thoughts: The Ride Has Just Begun

HIVE’s 3x rally is a testament to the power of strategic accumulation and well-timed breakouts. Crypto Patel’s eye for technical patterns has once again proven invaluable, with his predictions providing a roadmap for traders. For those late to the party, the token’s roadmap to $1 and beyond offers hope, but the mantra of “profit-taking” cannot be overstated.