Harmony Price Analysis: When Will ONE Token Retracement Phase End? Watch For These Crucial Support Levels.
The technical outlook for ONE/USD indicates a strong uptrend in its chart. In this rally, the token has provided multiple entry opportunities through its minor retirement, and such same opportunity is currently knocking on the door for crypto-traders. Will history repeat itself?
- The ONE token price has plunged to 0.382 Fibonacci retracement level
- The ONE token’s daily RSI has shown a significant drop in its chart
- The intraday trading volume in the ONE token is $96.1 Million, indicating a 20% loss.
Source- ONE/USD chart by Tradingview
The incredible rally of October month marked a New All-Time High for ONE token at $0.378. After this, the token entered into a retracement phase, which plunged the price to 0.382 Fibonacci retracement level.
However, if the token drops below this support level, the crypto trader can still maintain a bullish sentiment until the price sustains above the $0.217( 0.5 FIB level) and $0.18( 0.618 FIB level).
The ONE token in the daily time frame chart displays a bullish alignment of the crucial EMAs(20, 50, 100 and, 200). The token price is currently obtaining goos support from the 50 EMA line.
The Relative Strength Index value at 48 indicates a bearish sentiment for ONE token price. Moreover, the RSI line displayed a striking drop in its value for a minor retracement phase, suggesting weakness for the bull rally.
ONE/USD Chart In The 4-hour Time Frame
Source- ONE/USD chart by Tradingview
The ONE token is currently hovering above the crucial support of $0.257. The price has a good chance of continuing its rally if it gets sufficient demand pressure from this level. The crypto trader could get a better confirmation for a long trade if the price reclaims the 20-day EMA line, which is currently under the bear’s control.
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