- The ONE token’s daily RSI shows a significant drop in its value
- The ONE/BTC pair was trading at 0.000004947 BTC with a gain of 5.09%
- The 24-hour trading volume in ONE is $200.4 Million
As mentioned in my previous article on Harmony, the ONE token faced strong rejection from the New-All TIme high resistance of the $0.38 mark. Furthermore, the token initiated a minor retracement phase which plunged its price to the nearest significant support of the $0.268 mark. The technical chart shows decent demand pressure at this level, displayed by a daily hammer candle
The crucial EMA’s shows that the ONE token’s price is trading higher than the EMAs 20, 50, 100, and 200, indicating a bullish alignment. Moreover, the 20 EMA line is currently providing strong support to the token price.
The RSI value(BULLISH) stands at 58, indicating a bullish sentiment for the token. However, the RSI shows a considerable fall in its value for the recent pullback, indicating some weakness among the buyers.
ONE Token Price Hovering Above The $0.277 Support
For more than a week, the ONE token price has been resonating between $0.31 and $0.27, creating a narrow range in its chart. This small range could offer an excellent opportunity for crypto traders if the price breakout from the overhead resistance. The ONE token price is currently trading at $0.30, with an intraday gain of 6.69%.
As per the traditional pivot levels, the nearest resistance for the ONE token price is $0.32, followed by $0.36. And for the opposite side, the nearest support these traders can expect is $0.277, followed by $0.26.
Conclusion: From the technical perspective, the overall trend for the ONE token is strongly bullish. However, as mentioned above, the price is currently in a retracement phase and is also obtaining good support from the $0.27 mark. Crypto traders can consider entering a long position if the price breakout from its short-range, which pushed this token back to ATH of $0.38
Support– $0.27
Resistance– $0.31