Harmony (ONE) is a blockchain platform designed to facilitate the creation and use of decentralized applications (DApps). The network aims to innovate the way decentralized applications work by focusing on random state sharding, which allows creating blocks in seconds. Stephen Tse is the founder and CEO of Harmony. He has a Ph.D. from the University of Pennsylvania, specializing in cryptographic protocols and type theory.
ONE started trading on 11 October 2021 at $0.2552. After 7 days, it closed on 17 October 2021 at $0.2285. There was an overall change of -10.4% across the week.
The price was correcting itself, after which it took the support at the $0.209 level. The trend reversed itself and the price was increasing for the last 2 days. Today, the price is showing bearish signals. The current trading price is $0.225, which is 1.49% less than compared to yesterday’s close.
OBV is on an uptrend. This can be seen as the buying pressure is dominating the selling pressure for the last few days. This is a bullish signal and traders may take a long position here.
RSI is again in the upper region at 59.92%. This is again a bullish signal. ONE traders may take a long position.
MACD is showing strong bearish signals. The fast line sharply turned towards the slow line and is now overlapping it. There is no divergence from the price chart also. This is a strong selling point. Traders may take a short position here.
Fib numbers suggest that the ONE price is currently taking support at the $0.21 fib level. The next fib level will be tested at $0.27.
Thus, RSI and OBV suggest that the traders may take a long position. This can be done by keeping the target at $0.267. However, MACD is showing a strong bearish signal, following which the traders may take a short position by keeping the stop-loss at $0.21.