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Sunday, December 4, 2022
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    HomeMarketHarmony (ONE) reports an extensive rebound

    Harmony (ONE) reports an extensive rebound

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    Harmony (ONE) had suffered a significant sell-off at first of April. The coin the truth is hit the bottom stage because the tail finish of February and was trying bearish. However to date, it looks like the token is rebounding. How lengthy can this uptrend final? Study extra beneath however first, listed below are key takeaways from the article:

    • Concord has managed to keep up robust assist at $0.1130 in latest weeks.

    • The coin has surged by 6% within the final 24 hours albeit it stays 10% down for the week.

    • The rally over the previous couple of days appears unlikely to final that lengthy.

    Knowledge Supply: Tradingview 

    Concord (ONE) – Why the latest uptrend will fade?

    There’s a very massive distinction between a rebound and a development reversal. When cash undergo a sustained bearish interval, they’re more likely to rebound barely however total, the bearish circumstances nonetheless stay. That is the precise case with Concord (ONE). 

    Though the coin has posted some first rate features in the previous couple of days, we don’t count on the medium-term bearish development to reverse. In actual fact, ONE nonetheless stays nicely beneath its 25- and 50-day SMAs. In addition to, a take a look at the chart exhibits that coin has shaped an inverted cup and deal with sample. 

    These two indicators recommend {that a} bearish development remains to be anticipated. Maybe the excellent news for ONE buyers is the truth that the coin remains to be buying and selling above the essential assist zone of $0.113. But when this worth is breached, extra losses will observe.

    Learn how to play the Concord (ONE) setup?

    There’s a huge draw back threat with Concord proper now. One of the best factor to do as an investor is to look at the value motion this week. If bulls handle to keep up the $0.11 assist, then you should purchase and exit at 20% features max. 

    The potential upside for ONE stays considerably low. But when the assist is breached, give it one other week to consolidate before you purchase.



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