ONE coin price is under tremendous buying pressure. It breaks above the $0.21 key level. Hence, the price can soon rise above the $0.30 mark.
Harmony’s mainnet, which focuses on processing speed as well as validation, aims at revolutionizing block creation. The company was able to significantly reduce the time required for node validation by introducing sharding.
Harmony introduced the Verifiable Regular Function (VRF), which is an independent and unpredictable shard member to ensure that nodes are secure and protect the validation process. This allows validators and nodes to be assigned randomly and re-assigned.
Let us now look at the detailed analysis of Harmony cryptocurrency.
Past Performance of ONE
On 4th October, ONE coin price opened at $0.18. In the following three days, the price fell to $0.15. However, the support near $1.5 pushed the price higher. Therefore, resulting in the growth of more than 30% within 48 hours. Additionally, the price action resulted in a bullish engulfing candlestick in the weekly chart.
ONE Technical Analysis
ONE cryptocurrency is currently at $0.2288 as of the writing date. Additionally, Harmony has risen by 28.70% in the last 24 hours. Thus, indicating a tremendous buying pressure supported with a 500% rise in the intraday trading volume.
The 4-hour chart shows the coin price retraces to retest the bullish breakout of the $0.21 key level. A successful retest will increase the underlying bullishness multiple-folds.
As per price action, the ONE Coin price might find support at $0.21 or $0.18. However, upon successful retest, resistance close to $0.25 and $0.32 might push it down.
MACD and signal lines on the daily chart move higher above the zero line. The lines are maintaining bullish alignment with a significant rise in bullish histogram formation. Hence, it gives a buy signal.
The slope for the RSI indicator rises above the daily chart’s central line. The slope is slightly below the overbought boundary as it moves at 68%. Therefore, RSI indicates a strong bullish signal.
As per the Harmony technical analysis, the situation is incredibly bullish for ONE crypto. The price action indicates a short retracement to $0.21 as a retest. This can act as a bullish entry spot with tight stop loss. However, safe traders can wait to see if the price ever retests the $0.18 level.
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