<em><strong>The lack of bullish commitment leading to a retracement forms a descending triangle with a base at $0.038, warns of a bearish continuation in ONE prices.</strong></em>

Key technical points:
<ul>
 	<li>The market prices slightly recover 0.65% over the past 24 hours.</li>
 	<li>The bearish retracement within the descending triangle.</li>
 	<li>The 24-hour trading volume of Harmony is $20.95 Million, indicating a hike of 5.55%.</li>
</ul>
<h2>Past Performance of ONE</h2>
ONE price showed a dramatic reversal from $0.038, which resulted in an increase of 36% increase to $0.053. However, it failed to exceed it, resulting in the retracement phase. The downward trend creates an upward trendline that forms the shape of a triangle with an initial base at $0.038mark. Conversely, a downward trend can increase the probability of a bearish drop.

<img src="https://s3.tradingview.com/snapshots/x/xR9NnW2C.png" alt="TradingView Chart" />

<strong>Source-</strong> <a href="https://www.tradingview.com/x/xR9NnW2C/" target="_blank" rel="noopener">Tradingview</a>
<h2>ONE Technical Analysis</h2>
Harmony (ONE) buyers exhibit a downward trend in intraday trading volume, which raises the probability of a bearish turn within the price trend. However, traders must look for a close below the base to ensure they don't get caught in the reversal. The Bollinger bands exhibit a contraction period after the reversal of the lower band, which stabilizes the falling trend. However, the midline of the Bollinger bands provides a dynamic resistance to bullish growth.

The MACD and signal lines show an upward trend that continues the path to the zero line. But, the decreasing intensity in bullish histograms suggests a potential crossover representing trend reversal. In addition, the Stochastic RSI shows a relenting downtrend within the neutral zone as the crossovers become more frequent. Hence, the indicators weaken the underlying bullishness and warn of possible bearish fallout. In a nutshell, the ONE technical analysis highlights the potential fallout ready to reach $0.030.
<h2>Upcoming Trend</h2>
If sellers can break beneath the bottom of the triangle, a drop to the $0.030 in <a href="https://www.cryptoknowmics.com/news/harmony-invests-in-lootmogul-gaming-metaverse/">ONE</a> market value is almost inevitable. But an upward breakout of the resistance trendline could lead to a price increase to $0.050.

<strong>Resistance Levels:</strong> $0.050 and $0.075

<strong>Support Levels:</strong> $0.038 and $0.030

&nbsp;

ONE Technical Analysis: Sellers Ready To Crack Bearish Triangle

ONE technical analysis highlights the potential fallout ready to reach $0.030 with the lack of bullish commitment leading to a descending triangle.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ONE Technical Analysis: Sellers Ready To Crack Bearish Triangle

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