ONE token price indicates an early bullish reversal with a morning star pattern that can lead to a bullish breakout above the $0.30 mark shortly.
Harmony is a blockchain platform that facilitates the creation of and uses for decentralized apps (DApps). The network's goal is to revolutionize the way decentralized apps work by focusing exclusively on random state shattering, which allows you to create blocks in seconds.
Let us now look at the comprehensive technical analysis of Harmony cryptocurrency.
After facing a more than 40% price jump due to the demand jump near the $0.17 mark. The ONE coin price found opposition near the $0.25 mark, close to the resistance trend line. Thus, resulting in a short-term reversal to $0.20.
However, the price action forms a long-tailed morning star pattern. Hence, a bullish reversal forecasts a breakout above the trend line.
Source - Tradingview
ONE cryptocurrency is currently at $0.2522. Additionally, the cryptocurrency has increased by 13.78% in the last 24 hours. Thus, indicating a drastic jump in buying pressure supported by a 40% rise in the intraday trading volume.
The coin price may face resistance near the $0.30 and $0.36 upon trend line breakout as per the pivot points. In case of a bearish reversal, the price may find support near the $0.22 and $0.16 marks.
MACD and signal lines are above the zero line in the daily chart. Moreover, the fast line is above the slow line indicating the bulls control the trend. Hence, it provides a buy signal for ONE coin.
The RSI indicator trades slightly below the overbought boundary at 66% in the daily technical chart. Thus, it indicates a boom in bullishness.
As per the Harmony technical analysis, the situation indicates a potential bullish breakout for ONE crypto. The price action suggests the early bullish reversal can lead to a bullish breakout. Hence, one can expect a bull run above the $0.30 mark.