Covenant x402
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Pearl
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Claudia
Bitcoin
Injective
- Harmony coin came back near lower level of 2022 during the retracement phase.
- ONE Coin saw 5 red candles frequently in terms of the daily price chart after breakdown of horizontal range.
- The Harmony price respect for the bitcoin pair is showing downside (3.89%-down) at 0.000003206 satoshis.
Harmony Coin was one of the high return on investment generator assets in the year 2020-2021 and achieved an increase of almost 31400% from its lowest level ($0.00118-digit). The digital asset formed a double top formation in late 2021 on a higher time frame, and bears took advantage of this bearish signal. Near the 2022 lows, bulls have shown some empowerment, but again they are facing a downward movement.
There is no doubt that bulls are losing their grip on the Harmony coin, due to which they are unable to have a positive weekend for so long. According to CMC data, at the time of writing, One Crypto is trading in a bearish zone with an increase of 8.81% at $0.1259. However, bulls failed to keep the price of crypto above the inline trendline (white) last week. Meanwhile, the ONE coin price respect for the bitcoin pair is showing downside (3.89%-down) at 0.000003206 satoshis.
Harmony Crypto has gained 15% trading volume in the last 24 hours. However, the daily volume bar has remained below the moving average (blue) for the past several days. Meanwhile, the volume to market capitalization ratio is 0.09288. Nevertheless, the Coin has an important support area at $0.100, and on the other hand, $0.17 appears to be a short-term resistance level for the Harmony coin.
Is it possible for ONE to recover?
The coin price is moving below the EMA ribbon indicator on the daily price chart. The crypto has recently retired the red EMA lines as a bullish hurdle in the bounce back. Furthermore, the 200-EMA (Yellow) remained a point of volatility for so long, so buyers need to hunch the daily price chart above the 200-EMA.
Stoch RSI is heading towards an oversold phase after pulling down its peak from the overbought zone. The indicator may hit lower levels before any recovery. Furthermore, the Average Directional Index appears to be neutral at 23-point, which suggests a weak momentum for the Harmony coin.
Also read: The ONE Coin is about to retest key $0.10 mark after a 6-month absence
Conclusion
The Bulls failed to sustain the bounce back and ONE Coin again fell back into a bearish phase. If the sellers break the recent swing low of $0.1206, then $0.100 will remain the last hope for the buyers.
Support level- $0.10 and $0.07
Resistance level- $0.16 and $0.22
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.
