Harmony Price Analysis: When Will ONE Token Retracement Phase End? Watch For These Crucial Support Levels.

By Sunil Sharma
Published November 14, 2021 Updated November 15, 2021
Best Buy In

Exchanges

Wallet

Price Analysis: Harmony Displayed A Death Cross While Spell Token Trades Restrictively

Harmony Price Analysis: When Will ONE Token Retracement Phase End? Watch For These Crucial Support Levels.

By Sunil Sharma
Published November 14, 2021 Updated November 15, 2021

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.

TradingView Chart

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

TradingView Chart

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.

.

 

 

advertisement

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.
About Author
Sunil Sharma
294 Articles
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

Loading Next Story