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Harmony One Token Accumulation Zone Expands, Expected To Hit $0.05

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HARMONY ONE token
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  • ONE coin continues to move inside the accumulation zone. However, the breakout of the accumulation zone is expected soon
  • The coin is trading closely with the 50 EMA, with slightly increasing selling volume in the daily timeframe.
  • The pair of ONE/BTC is trading at 0.00000221 BTC, with an intraday move of +1.83%.

ONE coin price is resonating inside an accumulation zone in the daily timeframe. The price had started an uptrend but eventually fell before undergoing this accumulation zone. The price is just trading above 50 EMA (yellow) in the daily timeframe, implying the uptrend is still intact.

Investors must note the slightly increasing selling volume before siding with the bulls. The live ONE price today is $0.1221 with a 24-hour trading volume of $151,740,227. The coin price has dropped 12.5% in the last 24 hours. With a live market cap of $1,162,524,976, ONE ranks at #34.

ONE is currently accumulating inside a zone and moving in a range between $0.09 to $0.16. The price could give a fallout soon indicated by the slightly increasing selling volume. The coin price is expected to hit the $0.05 mark after the fallout. As per the pivot points, the $0.08 level provides support below the zone, whereas the level of $0.21 is the resistance level above the zone.

The price is trading just above the 50 EMA (yellow) in the daily timeframe. The fallout of this zone, with decent volume, can provide an exit signal for investors. 

The RSI (bearish) indicates bearish momentum in the daily timeframe while trading at 46. The RSI line is dipped and heading lower. Bearishness can be expected from RSI until it reaches near 32.

The ADX indicates a weak trend momentum while trading at 17, and the slope in ADX is moving downwards.

Conclusion- Accumulation zone of ONE is getting bigger every week, which increases the possibility of an even bigger move. The fallout of the zone is indicated by the bearish RSI, weak trend momentum, and increasing selling volume. Investors might want to wait till a proper breakout or fallout is performed.

Support – $0.09 and $0.08

Resistance- $0.16 and $0.21

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