Harmony is an open-source blockchain project that runs Ethereum applications at much lower transaction fees and instant transaction finality. It also facilitates cross-chain transfers of crypto assets. It also provides a robust platform for building innovative decentralized apps. ONE is the prime governance token of this ecosystem and its technical analysis is as follows: Past Performance On May 12, 2021, ONE started trading at $0.12. On May 18, 2021, ONE closed at $0.17. Thus, in the past week, the ONE price has increased by roughly 42%. In the last 24 hours, ONE has traded between $0.15-$0.18. https://ift.tt/34126XG Day-Ahead and Tomorrow Currently, ONE is trading at $0.16. The price has decreased from the day’s opening price of $0.17. Thus, the market seems to be bearish. The A/D indicator has fallen steeply. Thus, distribution activity is much higher than accumulation activity. Heavy whale offloading will exert downward pressure on the ONE price. Hence, the price is likely to decline further. The MACD and signal lines have just turned negative. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Like the A/D indicator, the MACD oscillator is also pointing towards a further price decline. Currently, the RSI indicator is at 45%. It faced rejection at 41% and rose to this level. Hence, even though selling pressures are high, buying pressures are slowly mounting. Thus, when we look at the RSI indicator in conjunction with the other two oscillators, we can say that price is likely to fall for some more time. Thereafter, we have to wait and watch if the price starts rising. ONE Technical Analysis Currently, the price is below the Fibonacci pivot point of $0.17. The price may soon fall below the first and second support levels of $0.155 and $0.15, respectively. Thereafter, we have to wait and watch if the price breaks out of these levels. Presently, the price has fallen below the 23.6% FIB retracement level of $0.16. If the price retests and breaks out of this level in some time, then we can expect the price upswing to continue today and tomorrow.
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