- The ONE coin price experienced massive buying in February 2024.
- Moving averages and Oscillators reflect positive signals in the current phase.
- Harmony trading volume has decreased 24.14% in the last 24 hours.
Harmony (ONE) mainnet aims to revolutionize block creation through a sharding process to reduce node validation time. It is a blockchain platform with a primary focus on processing speed and validation in the decentralized network. The platform is designed to facilitate the creation and use of decentralized applications (DApps). Harmony uses an effective proof-of-stake (EPoS) consensus mechanism for security.
ONE Coin Price Reflected Over 200% Returns During the Six-month Session
The Harmony cryptocurrency price experienced a potential bullish reversal in October 2023. The crypto cruisers lifted the harmony price for three consecutive months. ONE coin price surged over 150% from the $0.0085 support during the last quarter of 2023.
However, the price faced some profit bookings from the $0.0216 level in January 2024. This resulted in a bullish correction with a drawback of -22.15%. Subsequently, the Harmony price was observed to have a massive bullish reaction in February 2024.
The price reflected 69.12% growth by performing a solid bullish reversal from the $0.132 low level. This changed the market sentiments 360 degrees towards the bullish direction. The Harmony price is holding 19.21% growth in March 2024.
Supply and Token Distribution of the ONE Coin
The initial distribution of the Harmony coins is as follows;
- 22.40% is allocated to Seed sale
- 12.50% is allocated to Binance Launchpad
- 16.90% is allocated to the Team
- 22.40% is allocated to Protocol
- 4.00% is allocated to Node Round
- 21.80% is allocated to Ecosystem development
The fully diluted valuation of the ONE coin is assumed to be at $422 million. Harmony’s maximum supply is still uncapped, which means the cryptocurrency can face inflation in the future. It has a total supply of 14.22 billion coins, of which 13.85 billion ONE coins are currently in circulation.
Technical Analysis of the ONE Coin Price
The 50-day and 200-day exponential moving averages had a golden crossover at $0.0134 in December 2023. The price made multiple retracements on the EMAs, which makes them dynamic supports for the Harmony price trend.
Recently, the ONE coin price has given a breakout from the $0.0231 resistance. The price surged over 70% to the $0.0398 supply level. Afterward, the price faced some profit bookings, which resulted in a fall of 38% to the $0.0246 support.
Regarding the technicals, the price can reach the $0.0436 mark if it gives a closing above $0.0342. However, a short-term fall can be expected below $0.0246.
The relative strength index (RSI) reflected an internal bearish divergence in the price momentum. It indicates that the price faces higher sales in the current phase. RSI is moving at 52.22 below the signal line.
Summary
ONE coin price has been performing with strong bullish sentiments since December 2023. The price showed tremendous strength in February 2024 from the $00129 decisional POI. Harmony price is facing profit bookings from the $0.0398 supply. ONE coin price can reach the $0.0436 mark if it gives a closing above $0.0342. However, a short-term fall can be expected below $0.0246.
Technical Levels
- Resistance Levels: $0.0398 and $0.0436
- Support Levels: $0.0246 and $0.0169
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.