en

ONE Technical Analysis: Bullish Forces Are Strong Beyond $0.186


cryptoknowmics.com April 08 2021 08:42, UTC
Reading time: ~2 m

Harmony is a blockchain network that facilitates the scaling of Ethereum applications and cross-chain finance. It is a sharding protocol with a cross-chain UNISWAP port built on the mainnet. ONE is the prime governance token of this network. The ONE technical analysis will reveal price momentum for the next two days.

Past Performance

The price movement was right on as predicted in the previous analysis. On April 1, 2021, the opening price of ONE was $0.177. As of April 7, 2021, the closing price of ONE was $0.155. Thus, in the past week, the ONE price has declined by approximately 14%. In the last 24 hours, ONE has traded between $0.153-$0.177.

https://www.tradingview.com/x/76z80Ymr/

Day-Ahead and Tomorrow

Currently, ONE is trading at $0.173. The price has increased from the opening price of $0.155. Thus, the market seems bearish.

The MACD and signal lines are positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bullish. Hence, we can expect the price to go up further.

The OBV indicator is rising. Thus, buying volumes are higher than selling volumes. High buying activity will exert upward pressure on the price. Thus, the price is likely to increase further.

The RSI is presently at 60%. It has just fallen from the ‘overbought’ territory. Thus, the buying pressures are still on the higher side. It is a good time for day traders to go short. Hence, we can expect the price to go up further.

ONE Technical Analysis

As per technical analysis, currently, the price is inching closer to the second Fibonacci pivot resistance level of $0.176. It may soon surpass the third resistance level of $0.186, as the bullish forces are strong.

The price has tested and broken out of the 23.6% FIB retracement level of $0.171. Thus, the price uptrend is strong, and we can expect it to continue today and tomorrow.


   Source

Crypto News is the news aggregator about cryptocurrency, ICO, mining and blockchain.