Harmony Price Analysis: Bulls One-Up on the bears as ONE Coin keeps rising
ONE/USD is currently priced at $0.217 and has increased by 1.53% over the past 24 hours
• The trading volume has reduced by 29.05%
• The technical indicators suggest positive news for Harmony
Short Term View
Today’s Harmony price is $0.217693 with a 24-hour trading volume of $139,554,664. Harmony is up 1.53% in the last 24 hours. Price action has been bullish for the ONE token in 2022. It nearly tested the all-time-high on 14 January when it reached $0.377, marking its 7-day and 30-day high. The increased momentum has seen an increase of over 23% over the past week in Harmony. Even though the trading volume has fallen over the past day, the Volume to Market Cap ratio stands at 0.05481.
That’s a critical resistance area for Harmony at $0.23 in the short run. If it breaks above that, it will mark a trend reversal. The support, on the other hand, stands at $0.2032. The coin has seen a significant increase in value over the past week, and the bullish rally looks set to continue as the altcoin trades above the 20 and 50 SMA on the daily chart.
Long Term View
Harmony has been rising since the start of the month as the MACD Line has been trading above the MACD Signal Line, and the histograms have kept rising, which suggests the momentum is not slowing down. The RSI, on the other hand, is at 48.94, which indicates the coin is in neither overbought nor oversold territory. Additionally, no current bearish divergences on volume or RSI suggest weakening bullish momentum. This bodes well for the coin.
Harmony has witnessed significant increases in the past week, and the rally shows no signs of slowing down. Harmony should continue to rise and break out the clutter if the bulls keep the bears at arm’s length. A sustained rally for Harmony looks plausible at this stage.
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.