The Harmony [ONE] coin price presented a remarkable recovery from the $0.166 support. The technical chart shows six consecutive green candles with a 45% growth from last week. The price action currently retests the $0.33 resistance level, and the crypto traders should wait for a bullish breakout to trigger a proper entry signal.
Key technical points:
- The ONE coin shows a V-shaped recovery in its price
- The ONE coin price is trading at the $0.323 mark, with an intraday gain of 3.385
- The 24-hour trading volume in the Harmony coin is $358.8 Million, indicating a 72.5% gain.
Source-Tradingview
Previously when we covered an article on the Harmony coin, the pair was trying to recover from the November 2021 correction. However, the price couldn’t surpass the $0.33 resistance, resulting in an extended retracement.
The coin price lost more than half of its value and plunged to the $0.16 support. The price took nearly two weeks hovering at this support before starting a recovery phase.
This new rally has crossed above 20 and 50 EMA, reclaiming the bullish alignment among the crucial EMAs. The daily Relative Strength Index (69) confirms the rising underlying bullishness for this coin. The slope widening the gap with the 20-SMA
20 EMA Provides Dynamic Support To Trending ONE Coin Price
Source- Tradingview
The parabolic rally in Harmony coin is obtaining strong support from the 20 Ema. The coin price has doubled from the $0.166 bottom support level and is approaching $0.33 resistance, hoping for a bullish breakout.
Crossing above this overhead resistance, the crypto traders could grab a long entry opportunity which would continue the uptrend and soon challenge the All-Time High resistance of $0.38.
The traditional pivot levels indicate the important resistance levels are $0.319 and $0.348. Moreover, the support levels are $0.27 and $2. The Moving average convergence divergence shows both the signal and MACD line are steadily approaching the overbought zone along with maintaining a healthy distance between them.
Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Source: https://coingape.com/one-price-analysis-harmony-coin-rally-aims-to-knockout-another-higher-resistance/