Harmony Price Analysis: ONE coin is Trapped in a Triangle Pattern, Amid Indicators Show a


  • The Harmony (ONE) coin appears to be in a symmetrical triangle pattern on the daily price scale.
  • ONE Coin is trading above the mid-band of the Bollinger Bands indicator.
  • One coin pairing with bitcoin pair price is in the green zone at 3.6% 0.0000009885 satoshis.

As the entire cryptocurrency tries to recover its lost cost. Therefore, bitcoin and many other altcoins have recovered costs by more than 40% from their recent lows. Similarly, Harmony (ONE) tries to bounce the coin back.

The ONE coin looks under a symmetrical triangle pattern during the daily price chart. The range of the triangle pattern is gradually narrowing and a further breakout is possible. Hence, the altcoins are showing an uptrend for the past few days. Buyers in the middle of an uptrend tend to have an key support level near an ascending trendline.

Buyers are moving the Harmony (ONE) coin towards the downward trendline (top of the chart). Buyers may struggle further to break this bullish barrier. At the time of writing, the altcoin was trading at the $0.02365 mark against USDT during the recovery period.

Meanwhile, ONE Coin’s market cap is up 3.8% to USD 291 million, according to data from CMC over the past 24 hours. Buyers have pushed up the altcoin price by 2.8% so far this week. Moreover, the price of ONE Coin pairing with bitcoin pair is in the green zone at 3.6% 0.0000009885 satoshis.

Against the uptrend, trading volume on the daily price scale is gradually decreasing. Furthermore, ONE Crypto is trading above the mid-band of the Bollinger Bands indicator.

MACD is Going to Move Above Neutral Zone 

In terms of the daily price scale, the Stoch RSI recently took support at the 20 level and bounced back. At the same time, the MACD indicator is about to move above the neutral zone after a bullish crossover.

Conclusion

The Harmony (ONE) coin is consolidating in a triangle pattern. As long as the price stays in the range of the triangle pattern, buyers continue to struggle in it. For a sharp uptrend, the bulls need a breakout or confirmation of the breakdown.

Support level – $0.020 and $0.016

Resistance level – $0.026 and $0.030

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.



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