Harmony Price Analysis: The Sinking ONE Price is Disturbing Investors

  • After a brief recovery, the ONE price is again prepared to resume its downward trend movement over the daily price chart.
  • The crypto asset is moving above the 20 days moving average.
  • The ONE/BTC pair is at 0.00000103 which is at a loss of 1.38% in it

A blockchain platform called Harmony is intended to make it easier to develop and use decentralized applications. The Harmony mainnet seeks to reinvent block creation by putting an emphasis on processing speed and validity.

The ONE price after a small recovery is now again set to go for a down trend movement over the daily price chart. The coin needs to attract more and more buyers to oppose this dominance. The price made a recovery which attracted sellers and now the active participation of them is diluting the price continuously. The coin needs to call its bulls immediately to preserve the previous recovery and efforts of bulls. Analysts say on observing the historical data the price seems to fall more.

The current price for one ONE coin is $0.023 with an insignificant gain of 0.43% in its market capitalization in the last 24 hrs. The coin has a trading volume of 25 million which is at a loss of 29% in the 24 hrs trading session and a market cap of 286 million. The volume and market cap ratio for ONE stands at 0.0869.

What do Technical Indicators Suggest

The ONE price has started sinking across all time horizons so the bulls need to come forward for rescue of the token.

The MACD indicator over the daily price chart shows the buyers line is currently moving above the sellers signal line but histograms have started shrinking and the gap between the two lines is decreasing which supports the fact that the selling pressure is increasing over the coin. The relative strength index is diving amid the selling pressure over the coin, supporting the above statement. This bearish movement is induced after the cross over the upper band of the bollinger band cloud.

Conclusion

The ONE price after a small recovery is now again set to go for a down trend movement over the daily and hourly price chart. The coin needs to call its bulls immediately to preserve the previous recovery and efforts of bulls. The technical indicators over the daily and hourly  price chart supports the bearish movement ahead. The investors need to wait for market stabilization before making any move.

Technical levels

Resistance levels: $0.27 and $0.33

Support levels: $0.020 and $0.016

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.


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