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. Focusing on processing speed and validation, the Harmony mainnet aims to revolutionize block creation. By introducing the sharding process, the company reduced node validation times significantly.

Let us see the technical analysis of ONE.
<h2><b>Past Performance of ONE</b></h2>
The ONE price is trading at $0.2048 currently and has moved up by 8%. It touched a 7-day high of $0.2052 and a low of $0.1633. It has been trading within a range of $0.1727 and $0.3103 for the <a href="https://www.cryptoknowmics.com/news/one-technical-analysis-downtrend-breaks-0-25-to-head-lower/">last two months</a>. This shows traders and investors did not have a clear direction.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/v/VcTgTEAm.png" alt="TradingView Chart" />

Source: <a href="https://www.tradingview.com/x/VcTgTEAm/">https://www.tradingview.com/x/VcTgTEAm/</a>
<h2><b>ONE Technical Analysis</b></h2>
The analysis is showing a BUY mode with oscillators and moving averages. The ONE price is above the 100-day moving average, thus giving a BUY signal. Harmony’s price is recovering well from the carnage that struck the cryptocurrency world two weeks back. On December 7, 2021, it has leaped back 22% from a low last seen in October - the result of a 45% loss in 24 hours.

It is still  4500% up on a yearly basis.

The <b>On-balance Volume</b> is at 44.36 billion, and it seems to be flat with no real change in the volumes trading. There is scope for upward movement.

<b>RSI</b> is at 45% and seems to be rising. This coupled with an increase in volume shows a strong indicator towards prices going up with strength.

The MACD is almost at one point below the histogram with no movement, and thus there is a strong possibility of an uptick. It is at an inflection point right now.
<h2><b>Price Trends for the Day-Ahead and Tomorrow</b></h2>
A sharding protocol with a trustless Ethereum bridge, Harmony began May with some big news. It announced that a decentralized stablecoin issuance and trading platform, OIN Finance, will use Harmony to create a ONE-backed or ONE-denominated stablecoin.

The launch of ONE-stablecoin is a milestone for Harmony, as it will help to grow its DeFi ecosystem and build an important DeFi primitive, which can be applied in every DeFi protocol. Expect prices to move beyond pivot of $0.205613 and resistances of $0.306573.

ONE Technical Analysis: With Big Announcements, Huge Price Gains to Continue

The launch of ONE-stablecoin is a milestone for Harmony, as it will help to grow its DeFi ecosystem and build an important DeFi primitive, which can be applied in every DeFi protocol. Expect prices to move beyond pivot of $0.205613 and resistances of $0.306573. 

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

ONE Technical Analysis: With Big Announcements, Huge Price Gains to Continue

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