Detailed analysis of Harmony $ONE
Current status of the currency:
Current price: $0.045
Change in the last 24 hours: Up by about 22.43%.
Market value: $634 million.
Trading volume (last 24 hours): Significantly high, reflecting high interest from traders.
Circulating supply: ~13.91 billion ONE coins.
Technical analysis:
1. Support and resistance levels:
First support level: $0.03623
If the price drops to this level, buyers are expected to appear to support the price and bounce back higher.
Support Level 2: $0.03200
In case the first support is broken, this level is considered crucial to maintain the uptrend.
First resistance level: $0.04600
Breaking this level will confirm the continuation of the uptrend, targeting higher levels.
Second resistance level: $0.04800
It represents a profit taking point for short-term speculators.
2. Moving averages:
7-day moving average: The current price is above it, indicating positive momentum in the short term.
25-day moving average: The price is holding above this level, indicating a medium-term bullish trend.
3. Technical indicators:
Relative Strength Index (RSI):
It stands at levels between 70 and 75, which indicates that the currency has entered the overbought zone. This means that a correction is likely to occur soon, unless the upward momentum continues.
MACD (Macro Convergence Divergence Indicator):
It shows a positive crossover with the signal line, which enhances the possibility of the uptrend continuing.
Bollinger Bands:
The price is close to the upper bound, reflecting strong buying pressure. But beware of a correction towards the middle bound.
4. Trading volume:
The trading volume in the last 24 hours is significantly higher compared to previous days.
Increased trading volume: a strong signal of new liquidity entering and continued activity.
Future expectations:
1. Bullish scenario:
If the price breaks the resistance level of $0.04600 steadily, it is expected to target:
$0.04800 as first level.
$0.05200 as the second level if the momentum continues.
2. Bearish scenario:
If the price declines and breaks the support level $0.03623, it may decline to:
$0.03200 (2nd major support).
$0.02800 in case of increased selling pressure.
Recommendations for daily trading:
Entry and exit strategy:
1. Login:
On a bounce from support $0.03623.
Or when the resistance is broken at $0.04600 with high trading volume.
2. Exit:
Take profit at $0.04800 or $0.05200.
3. Stop Loss:
Place a stop loss below $0.035 to avoid big losses.
Risk management:
Do not risk more than 3% of your capital on a single trade.
Use trailing stop loss orders to lock in profits if the price continues to rise.
Influencing factors to monitor:
1. Any new news related to the Harmony project, such as new partnerships or technical updates.
2. Movements of major currencies such as Bitcoin and Ethereum, as they directly affect the market.
3. General market sentiment, as any strong market fluctuations may affect the currency’s performance.
Note:
Cryptocurrency markets are highly volatile, so it is always advisable to conduct independent research and consult an expert before making investment decisions.
