in

Crypto Hot News Harmony [ONE]: With the value area lows breached, will the buying pressure continue

Hot Crypto News Today Harmony [ONE]: With the value area lows breached, will the buying pressure continue You Must Read To Get More Information For Trading and Investment.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

Harmony dipped to $0.135 lows, but was quick to bounce in recent hours and signaled that further upside was possible in the next few days. The indicators noted that momentum and selling pressure had been strong in the past few days. The short-term market structure was also bearish. Despite these misgivings, higher timeframes showed that ONE had reached a logical retracement level to buy the asset.

ONE- 2 hour chart

Crypto Hot News Harmony [ONE]: With the value area lows breached, will the buying pressure continue

The Volume Profile Visible Range showed the Value Area to extend from $0.14 to $0.0.175. The Point of Control lay at $0.162 and represented the area where the most trading volume has occurred in the visible range.

At the time of writing, the price dipped to $0.135, beneath the Value Area Lows at $0.14 but bounced back quickly. Moreover, the $0.14 area had been the place from which ONE initiated its late-March rally to the $0.18 highs.

Hence, if sustained buying pressure is seen, a similar rally could take place in the days to come.

Rationale

Crypto Hot News Harmony [ONE]: With the value area lows breached, will the buying pressure continue

The RSI was beneath the neutral 50 to show that, on the 2-hour timeframe the momentum behind ONE was still bearish. The MACD presented similar evidence as the MACD line (blue) formed a bullish crossover above the signal line (orange), but this was beneath the zero line. Hence, bearish bias was still present.

The Chaikin Money Flow rose above +0.05 the previous day to show rising buying pressure. The OBV also reclaimed a level that it has held as support in the past three weeks.

Conclusion

Although the near-term price action and momentum were bearish, swing traders can look at the charts and see a good risk-to-reward setup to enter a long position at. The OBV climbed back above a level it has not breached since February.

This was important because rallies have been sparked in this area for Harmony in the past couple of months. There was a 45% rally in mid-March and another, nearly 54% rally in late February.

Read more Crypto Hot News here.
Watch free hot girl asia stock quality Photos on hotgirl.asia Crypto Hot News Harmony [ONE]: With the value area lows breached, will the buying pressure continue

What do you think?

Written by thegamefi

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

    Crypto Hot News Anchor Protocol: The technicals to bear in mind before buying

    Crypto Hot News Grayscale slams the gavel; AVAX & DOT join the family, SNX & SUSHI cast out