- The ONE Coin is trading in a strong uptrend momentum holding clear intentions to break out of the downward sloping line.
- The crypto asset is trading below all 20, 50, 100, and 200-days Daily Moving Average.
- The pair of ONE/BTC is trading at 0.00000387 BTC with an intraday gain of 15.80%, whereas the ONE/ETH pair is CMP at 0.00005434 ETH with a 24-hour positive change 10.86%.
ONE Coin price CMP at $0.15 and has gained more than 17% of its market cap value in the last 24-hour. However, the trading volume seems pretty low by 2.57%. The volume to market cap ratio is 0.1269. The ONE Coin needs to attract more buyers to escape the downward sloping line in the intraday trading session. The token is all set to break out of the downward sloping line.
However, bears may try hard not to let the coin escape as the token was attempted many times before but failed to sustain.
ONE Coin has to attract more buyers then only it can successfully register a strong bullish reversal over the daily chart. The crypto asset failed multiple times to sustain at the neckline, but it seems determined to escalate this time.
The ONE coin price is trading below the downward sloping line. The token turned bullish after getting out of a downward parallel channel. The bulls are on the way to provide the Coin with a go-through from the neckline. Whereas the volume change is low over the daily chart as it resides below the average line.
The buyers’ involvement is short for the ONE Coin right now. The token needs to attract more buyers to move out of the neckline with a strong bullish reversal.
What do Technical Indicators Suggest?
The technical indicators also suggest an uptrend momentum of ONE Coin over the daily chart. Moreover, the Bollinger band reflected a positive sign as the token turned bullish from the lower band. The Relative Strength Index forecast a slight bullish behaviour of ONE Coin for the time being. RSI is at 40 anytime the investors can expect a directional change in the mid-40s.
MACD exhibits bullish momentum of ONE Coin. The MACD line is about to cross the signal line upward, which signifies the positive crossover.
Conclusion
The ONE coin price is trading bullish over the daily chart. The bulls must sustain at the neckline and let the coin break out of the zone. However, if bulls manage to maintain over the neckline, then ONE Coin can be triggered up to a respectable resistance level of $0.3. Vice-versa, if bears come into action, it can all go in vain, and ONE Coin can fall back in the demand zone.
Technical Levels
Support Level: $0.10
Resistance Levels: $0.3
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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.