I wanted to share a chart I have been eyeing for some time. Harmony is one of the few low cap alt coins that has not seen a recent large upward movement like TRX, DGB, VET, and other low cap alt coins.
Here is my technical analysis:
1. We are currently in Alt season. The ONE to BTC chart looks incredible.
2. Major support is 0.1425 so a buy at or near this level would be a good starting point to average in.
3. Major resistance is 0.16. This is both a strong daily and weekly resistance. If volume comes in and we close above this, I could see a straight shot to 0.22.
4. MACD is showing waning selling momentum. This is typically a bullish sign as we are consolidating between 0.14 and 0.16.
5. Price action is heavily bullish on the daily/weekly timeframe.
6. Price is consolidating and typically consolidation leads to a movement in the direction of the current state of the market. This chart is heavily bullish so I would say an upside swing is likely.
My price targets are 0.22 to start and then 0.3 if price action is still very bullish. I believe a strong close above 0.16 would lead to the upward swing I am predicting.
As always, be patient, have risk management, and good luck trading!