HIVE Blockchain (NASDAQ:HIVE) Stock Sees Buying Action At a Lower Level

The growth in the cryptocurrency and blockchain industries has led to considerable interest in stocks from the industry. If you are looking into such stocks this morning then it could be a sound move to perhaps start tracking the HIVE Blockchain (NASDAQ:HIVE) stock.

Trading Data

On Friday, HIVE stock gained 7.53% to $2 with 18.88 million shares, compared to its average volume of 10.19 million shares. The stock moved within a range of $1.8900 – 2.1200 after opening trade at $1.89.     

Major News

 It emerged as one of the notable gainers this past Friday and ended up with gains of as much as 7% amidst considerable interest. The stock rallied after the company provided a report of its worldwide of its worldwide Ethereum and Bitcoin mining operations. HIVE announced that as on January 31, 2022 it had as many as 25404 Ethereum and 2043 Bitcoin.

In the month of January, HIVE managed to mine a total of 264 Bitcoin tokens and it was also noted that the average production stood at 8.5 Bitcoin tokens a day. The announcement proved to be a positive one for the company as investors welcomed the news and piled on to the stock in a big way.

It is now going to be interesting to see if the HIVE stock can manage to hold on to its momentum in the coming days and add to its gains.

Technical Data

HIVE stock is trading below the 20-Day and 50-Day Moving averages of $2.11 and $2.62 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.91.