- After overcoming the box pattern (green), the harmony coin is consolidating just above by indicating inside candles.
- ONE coin price is trading above the 20 and 200 day moving averages in the daily price chart, besides the 50 and 100 MAs are still above the current price.
- ONE/BTC pair price is slightly bearish by 1.7% at 0.0000049 satoshis.
The harmony coin was moving sideways near the critical support level ($0.17). As the currency validated the support zone, the investors had to come to its aid. At the moment of typing, bulls had successfully overcome the box pattern (green). The ONE, on the other hand, is down 4.25% at $0.2147. Bulls are attempting to keep the coin’s value well above box range.
At $269.3 million, the 24-hour trading volume climbed by 87%. The volume is presently lower than usual and must be increased to reach the average level. The volume to market capitalization ratio is 0.1014 at the moment. In terms of the daily price chart, the harmony coin price is effectively holding above the 20 and 50-day moving averages. The 100 and 200 MAs, on the other hand, will operate as a bullish barrier. The ONE coin has an excellent support level of $0.17 and a resistance level of $0.27. Moreover the ONE/BTC pair price is slightly bearish by 1.7% at 0.0000049 satoshis.
Could the bulls again dump ONE’s price in a sideways range?
Following its recovery from the bottom lever, ONE coin has remained above the 20-MA of the Bollinger Bands indicator on the daily price graph. By rebounding from the oversold level, the RSI is helping the buyers. The RSI is currently retesting the half-line (50-point), which served as a significant support level in previous trading days. The average directional index, on the other hand, sees a lack of favorable momentum. Furthermore, the MACD formed a bullish crossing and is going towards neutral.
Conclusion
It appears bears are trying to push down the price of the harmony coin again just above the box pattern. In the event that bulls fail to step up, the price may once again head into a sideways range.
Resistance level- $0.27 and $0.37
Support level- $0.170 and $0.13
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.