Harmony Price Analysis: Planning To Buy Harmony(ONE)? ONE/USD Retesting Monthly Support

The Harmony (ONE) buyers’ recovery rally failed to surpass the immediate resistance of $0.225. The ONE price reverts and charges towards the previous lower low support of $0.163. If altcoin plunged below this bottom support, it would indicate the bears are selling on rallies, signaling the resumption of the downtrend.

Key technical points:

The ONE buyer’s lost the 200-day SMA
The 24-hour trading volume in the Harmony coin is $192.9 Million, indicating a 3.6% loss.


Last week’s recovery rally in the ONE/USD pair turned down from the $0.225 resistance and slid below the 200-day SMA($0.2) on Feb 11. Currently, the coin price trades at $0.187, indicating a 16.8% fall in the last three days.

The ONE price would soon retest the monthly support of $0.163 to confirm if buyers are accumulating at this mark or there’s more in correction.

It is crucial for ONE buyers to defend the $0.163 support because a breakdown and closing below it, could intensify the selling pressure, and sink the altcoin 28% down to the $0.118 mark.

However, if they succeed rebound the altcoin from the bottom support, the buyers will make another attempt to challenge the $0.225 resistance. Furthermore, a genuine breakout from this resistance would give a positive signal for trend reversal.

The technical chart indicates the important supply regions are $0.225 and $0.27. Moreover, the demand can be expected at $0.163 and $0.12.

Technical indicators:

Due to the recent reversal, the 50-day SMA failed to cross above the 100 SMA line. Moreover, both these lines sloping downwards indicate the bears are dominant.

The daily-Relative Strength Index reenters the negative territory, suggesting a bearish sentiment among the market participants.
The 4-hour Bollinger band indicator moving sideways accentuates the short-term consolidation between the $0.225 and $0.163. 

Solana Creeps Higher, Looks To Revisit January Highs AT $177.0
Ethereum Price Analysis: Fibonacci Retracement level 0.618 Triggers Recovery Rally In ETH Coin
BTC Price Analysis: Death Crossover Brings Nightmares On Satoshi Street; Is This A Buying Opportunity?
Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?
DOGE Price Analysis: Highly Influential Bearish Trendline Undermines Bullish Attempts; Buy, Sell Or Hold?
Terra Price Analysis: Will LUNA Price Bounce Back at 0.382 Fibonacci Retracement?
SAND Price Analysis: Sandbox Price Losses 50% Retracement Level, Good Time to Buy?
LINK Price Analysis: Chainlink price reclaims 200-day EMA, Emerging trendline Suggests More Upward Price Movement
Harmony Price Analysis: Rising Parallel Pattern Could Lead 30% Growth In $ONE Price
Ripple Price Analysis: XRP Bears Struggle To Breach $0.7 Support Zone, Is A Reversal Next Move?
Crypto Stories
View all

Read More

Leave a Reply

Your email address will not be published.