quantguy

Three Reasons Why It's a Great Time To Buy Harmony ONE

Long
BINANCE:ONEUSD   Harmony / US Dollar (calculated by TradingView)
TLDR; Three reasons to buy Harmony ONE:

1. Recent upgrades
2. Strong technicals
3. Big developments in the pipeline

Harmony one retreated from highs in the high $0.30's over the thanksgiving weekend. It has been holding strong in the mid $0.20's despite the crypto FUD that brought ETH down briefly below $4K. We are near the bottom of a value area, the floor of which is relative lows at $0.23 or so. This lower bound is likely a floor, which gives us plenty of upside potential back to highs, or even the middle of the value area. If we retrace to the 50% Fibonacci level, that would bring us back to $0.288 or so, for nearly a 10% return if you bought at current levels which are around $0.262 at the time of this writing. Longer term, we appear to be in a sideways correction bounded between $0.23 and $0.33, a rather wide range. The Kovach OBV has dipped with the selloff, but has started to level off, indicating we are finding support and are likely to get a bounce soon.

The Harmony ONE team has boasted about recent developments to the blockchain. Also, there is a general interest in alternative blockchains to ETH as we wrote about last week with Avalanche and Solana. The chain also has a lot of interesting projects like NFT's via davinci.gallery and harmonywhales.com. Finally, the Harmony Launcher raised $1.7M in an attempt to be the world's first IDO + IGO launcher.

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