The Harmony [ONE] The coin’s price chart shows an impressive recovery from its previous correction. The coin price is currently resonating within a rising parallel channel, which is leading this fresh rally. While this pattern often prompts a drop from the support trendline, crypto traders can maintain an upbeat sentiment until the last point is intact.
Main technical points:
- ONE coin price receives strong support from the 20-day EMA
- Daily RSI slips below the 20-SMA
- ONE coin’s intraday trading volume is $375 million, representing a 21% drop.
The source- Tradingview
Recently when we covered an article about harmony [ONE] cents, its rally is preparing to knock out another higher resistance at $0.33. However, intense supply pressure from this level rejected the coin price with the evening star pattern.
Although the price has managed to sustain above the $0.27 support, a break above the $0.33 resistance remains a major challenge for buyers. Furthermore, the technical chart shows that the price action is following a bullish parallel pattern.
This new rally in ONE coin has broken through the important EMAs (20, 50, 100), regaining the bullish bias in the daily chart. Furthermore, the 20 EMA provides dynamic support for the coin price.
Amid intense selling pressure in the crypto market, the Relative Strength Index (52) remains above its neutral line (50).
ONE Price Shows a Double Top Pattern in 4 Hour Time Frame
The source- Tradingview
In contrast to the price action above, this 4-hour timeframe chart shares a bearish outlook for ONE coin price. The coin chart shows a double top with neckline support at $2.7. Following this pattern, the coin might even breach the uptrend line and initiate another correction in price.
The convergence divergence of the Moving Average shows that the MACD and signal are at the threshold of the nerve area (0.00). If the price continues to follow the red line, the indicator lines will drop below the midline, indicating bearish momentum.
Important resistance levels for ONE price level
- Resistance: $0.33, $0.379
- Support: $0.27, $215