TradeCityPro | ONE: Key Levels and Market Analysis👋 Welcome to TradeCity Pro!
In this analysis, I want to review ONE, the token of the Harmony project. Harmony is one of the layer-1 blockchain networks and is considered one of the older crypto projects.
✨ The token currently holds a market cap of $205 million, ranking 198th on CoinMarketCap.
📅 Daily Timeframe
On the daily timeframe, as you can see, there is a large consolidation box between $0.01033 and $0.032724. In the last bullish leg, the price started from the $0.01033 low and moved up to the main resistance at $0.032724.
✅ It even broke above this level, reaching $0.04532, but was rejected and fell back into the range, turning this bullish move into a fake breakout.
⚡️ After returning to the range, the price first corrected to $0.02286. Once this level was broken, the next bearish leg pushed the price down to $0.01346. Currently, we are seeing a smaller consolidation box between $0.01346 and $0.01681.
🧩 Looking at the RSI oscillator, there is also a range between 37.05 and 50. A breakout in either direction could confirm the momentum for that direction. Naturally, a break below 37.05 would be a stronger confirmation for downside movement, as the market momentum is already bearish.
📊 If $0.01346 is broken, the price could move toward the bottom of the large range at $0.01033.If $0.01033 is broken, a new all-time low (ATL) is likely to be registered.
🔼 On the bullish side, if the $0.01346 support holds and the $0.01681 resistance is broken, we can expect the price to rally toward $0.02286 and possibly even $0.03274.
🛒 For spot buying, I prefer to wait until this coin shows strength against Bitcoin and Bitcoin dominance starts declining. My spot trigger is currently at $0.04532, and I will not enter a position before this level is broken.
⏳ 4-Hour Timeframe
On the 4-hour timeframe, the price remains within the same range as identified in the daily timeframe.
🔽 For a short position, if $0.01327 is broken, you can enter a short trade targeting the bottom of the range.
📈 For a high-risk long position, if $0.014825 is broken, you can target the top of the range, but this trade is very risky.The main long position will be confirmed if the price breaks above $0.01681.
🔑 Regarding indicators and oscillators, I don’t have much to say in this ranging market. Volume is also low, making it difficult to rely on momentum indicators in this sideways phase.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️