Technical Analysis: Harmony (ONE) Stay In Ascending Channel

This is the daily tech analysis for Harmony (ONE) . We will be looking at last day’s movements and the support, resistance, pivot levels for the week ahead and the Fibonacci’s. Additionally, we will look at the EMAs and the key levels for today.
 

Moving Within An Ascending Channel Since December 5, 2021

When we examine the Harmony (ONE) coin chart, we see that it has been moving within an ascending channel since December 5, 2021. No matter how bad the cryptocurrency market is, it has managed to make its corrections by staying within this channel. In our previous Harmony (ONE) crypto currency technical analysis, we stated that the cup - handle formation was formed and the price prediction was 0.45 cents. Our previous technical analysis remains valid.

When we look at the current situation in Harmony (ONE) coin, 0.29 cent, which is the fibonacci level of 0.786, is our first support area. It is possible for us to throw a pin at this point from the lower band of the ascending channel. However, Harmony (ONE) will not break our rising trend in our coin. The problems that occurred in the Harmony (ONE) mainnet in the past days have been resolved. The Harmony (ONE) ecosystem is getting bigger every day. In the last 1 month, we can say that we have generally diverged from the market in a positive way. If Bitcoin price sustains the USD 40,000 level, our Harmony (ONE) coin will continue on its way with a solid stance.

When we continue to examine the technical details on our Harmony (ONE) chart, our 50-days simple moving average is around 0.25 cents. In a possible sharp decline, this price will be a support as a bottom level. However, 0.29 cent price would be a good stop loss for Harmony (ONE). Below this price, high losses can occur.

When we examine the Harmony (ONE) price on the 4-hours chart, we see that the candles are below our 9, 21 and 55 EMA moving averages. However, when we look at the last two movements in the ascending channel, we can say that the price recovered rapidly from these levels in a short time.

When we examine our chart in the daily, we see that the MACD indicator maintains the BUY signal. We can say that if the Harmony (ONE) price does not go below 0.29 cents, the BUY signal will continue, but otherwise the MACD signal may switch to the SELL state. When we look at the RSI indicator, we can say that we have not entered the overbought area yet.

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