Investing.com - Financial Markets Worldwide
⚠ NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Harmony’s ONE Token Targets $1 After Breaking All-Time High

ByAli Martinez
Published 10/26/2021, 01:35 AM
Updated 07/09/2023, 06:32 AM
ONE/USD
-

Harmony targets new all-time highs after slicing through critical resistance.

Key Takeaways

  • Harmony’s ONE token is up 126% since Oct. 1.
  • Further continuation of the uptrend can be expected despite the current gains.
  • A cup and handle pattern is indicating a $1 target in a bullish scenario.

Scaling cross-chain network Harmony has entered a new bull run. The ONE token looks unstoppable at current price levels and could target $1 by the end of the year.

Harmony Primed For Higher Highs

Harmony is in full price discovery mode and looks to be heading towards higher highs after breaking through crucial resistance.

Since the beginning of the month, Harmony’s native token, ONE, has enjoyed sustained bullish price action, surging by 126%. The upward impulse allowed the ONE token to breach its $0.225 resistance barrier to enter price discovery mode. Now, it faces little opposition preventing it from reaching new record highs.

From a technical perspective, Harmony’s price action since late March has led to the formation of a cup and handle on its daily chart. This type of technical pattern is considered a bullish signal, indicating an extending uptrend and is used to spot opportunities to go long. It suggests that Harmony is now bound for a possible 200% upswing that could see it reach $1 before the end of the year.

Such a bullish target is determined by measuring the distance between the bottom of the cup and the pattern’s breakout level, extending that distance upward from the breakout.

Harmony Daily Chart

The optimistic outlook should prevail as long as Harmony continues to hold above the $0.225 support. Any signs of weakness at this level could encourage investors to sell and avoid potential losses. If this were to happen, the ONE token would target $0.16 in a bearish scenario.

Original Post

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.