Harmony (ONE) price is showing bullish signs and it could be set for a big run against Tether (USDT) as it settles at $0.04.
Ethereum price rose from the $1,670 area to $1,924 with such a strong force prior to the Ethereum merger. This has brought relief to many altcoins including the price of Harmony (ONE).
Ethereum Merge is an upgrade from Proof-of-Work (PoW) on the Ethereum network to Proof-of-Stake (PoS) in order to increase its network efficiency in transactions. (data feed from Binance)
Goodwill (ONE) Price Analysis on the Weekly Chart
From the chart, ONE price saw a weekly low near $0.0168, which rebounded from that area and rose to a price of $0.02950.
The price has created more momentum as it faced resistance at $0.037.
If ONE price continues with this bullish formation on the weekly chart, it can quickly revisit $0.037 and rise to $0.04.
ONE – Weekly resistance for the price of $0.03.
ONE – Weekly Support for the price of $0.0168.
Price analysis of one on a daily (1D) chart
ONE price found strong support near $0.0266, which appears to be an area of interest on the daily chart.
Facing resistance at $0.04, ONE bounced off its support and turned upside down. ONE price was in an asymmetric triangle before forming support above it.
At the time of writing, above the 50 exponential moving average (EMA) with a price of $0.0266, ONE is priced at $0.02960.
If ONE price successfully maintains the $0.0266 support, we could see a rise in price. If the price of ONE is rejected, $0.0266, which corresponds to the 50 EMA, would be a good buy support.
The relative strength index (RSI) for ONE price on the daily chart is above 65, indicating healthy buy bids for ONE.
Volume for ONE indicates buy bids, indicating that the bulls want to push the price higher.
Daily (1D) resistance for one price – $0.04.
Daily (1D) support for one price – $0.0266, 0.024.
Price analysis of one on a four-hour (4H) chart
ONE price has continued to maintain its bullish structure after a successful break above the asymmetric triangle and retesting to form support.
ONE is trading above the 50 and 200 EMA with prices at $0.0258 and $0.0242, which acts as support on the 4H chart if ONE price gets rejected due to the weekend selloff.
If ONE price stays above the 0.02790 support level with good volume, we can see that the price is trending towards $0.04. If a selloff is experienced, the 50 and 200 EMA prices will act as support for ETH prices.
Four-hour (4H) resistance for one price – $0.04.
Four-hour (4H) support for one price – $0.0258, $0.0242.
Featured image from TronWeekly, Charts from TradingView.com