- ONE coin price is trading below the long-term supply zone of $0.02900, as the coin continues the bullish rally.
- The ONE coin price is from a rounding bottom pattern on a daily time frame.
- The pair of ONE/BTC I trading at the price level of 0.00000106 with an increase of 0.96% in the last 24 hours.
ONE coin price, as per the price action, is trading near the supply zone, as the coin has bounced off the demand zone. ONE coin price has formed a rounding bottom pattern on a daily time frame as it forms higher high and higher low formations. At present, the ONE coin price is trading in a small range. As the ONE coin price consolidates, it remains to see if it gives a breakout on the upside or not. The ONE coin price is trading below all the vital Moving Average. The coin price is trading near the 50 Moving Average. Recently, the coin price tried to break out of the 50 Moving Average but failed to do so. The ONE coin price has been trading at the upper band of the Bollinger band indicator after bouncing off the lower band. The ONE coin price has already crossed the 14 SMA. For the coin price to show further bullish momentum it needs to break the supply zone of $0.0290. Volumes have increased during the last trading days.
ONE coin price has fallen off to its roots, will it bounce back or fall further?
Supertrend: ONE coin price has fallen off to the long-term demand zone of 0.020 during the last 6-month sell-off in the overall cryptocurrency market. The super trend gave a sell signal as it broke down the important supply zone of $0.10. Since then the coin price has been on a downfall. It has failed to recover from the demand zone. Although the coin price has started consolidating, it remains to see if the coin price bounces off or falls further.
Moving Average Convergence Divergence: MACD indicators have had a positive crossover recently as the coin has started consolidating at the demand zone. MACD indicators were negative from the last weeks as they gave a negative crossover during the last breakdown of the important supply zone at $0.10. As the club starts bouncing off the demand zone, the gap between the MACD lines could be seen widening supporting the trend.
ONE coin price has formed a bearish flag and pole pattern on an hourly time frame
ONE coin price has formed a bearish flag and pole pattern on the hourly time frame. The coin has started forming lower low and lower high formation on hourly time frames.
Average Directional Movement Index: ADX has been dipping from the last trading hours as the coin fell below the important supply zone. As of now, the coin has started mining up slowly which has resulted in the ADX curve turning upwards.
The ADX curve has dipped out of the 25 mark and now if the coin price breaks the bearish flag and pole pattern, the ADX curve can be seen falling supporting the trend.
Relative Strength Index: RSI is trading at the price level of 47.59 as the coin hovers around the supply zones on a daily time. At present, the RSI curve is below the halfway mark of 50 and once it crosses the halfway mark of 50, the coin price can be seen moving up. The RSI curve is yet to cross the 20 SMA yellow line.
CONCLUSION: The ONE coin price has fallen to the long-term demand zone. As the technical parameters suggest, the coin price is in a neutral trajectory. It remains to see if the ONE coin price bounces off the demand zone or falls below: $0.0150 and $0.01750
RESISTANCE: $0.02900 and $0.02959
