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The Harmony blockchain fell sufferer to one of many most infamous hacks in decentralized finance (DeFi) history and the fallout from that assault in 2022 noticed the ONE worth tank tremendously, dropping over 98% of its all-time excessive worth. However, one 12 months later, the cryptocurrency appears to be making a comeback as buyers and merchants flip bullish as soon as once more.

Crypto Analyst Predicts Great Things For ONE Token

Crypto analyst Alan Santana has shared an evaluation of the ONE token, the native cryptocurrency of the Harmony blockchain. In this evaluation that focuses on one of many forgotten giants from the DeFi summer time of 2021, Santana paints a reasonably bullish image, the sort that hasn’t been shared for some time now.

The evaluation focuses on the ONE/BTC pair which reveals nice promise in comparison with the ONE/USDT pair. This comes after the coin hit a brand new low of $0.008 this 12 months, earlier than rebounding, and this rebound appears to be the premise of its bullish pattern.

Santana defined that this specific development had begun in October and has thus far sustained provided that the value is up greater than 100% since then. However, the way in which ahead remains to be not utterly clear as t

he crypto analyst factors out that whereas the cryptocurrency has been capable of break above its 200-day shifting common (MA), it’s now going through much more resistance. This resistance is now outstanding on the 300-day exponential shifting common (EMA).

Source: Tradingview.com

With the resistance shifting upward, assist for the coin has shaped on the EMA200, proving to be an necessary degree for the coin. From this degree, a break above the EMA300 is definitely what is required for the altcoin to substantiate its breakout from right here.

Santana posits that when this break occurs, it’ll verify the long-term development potential for the ONE price. At this level, buying and selling quantity is predicted to soar “and the daily sessions/candles become really big,” the analyst explains.

Harmoney at $0.02 | Source: ONEUSDT on Tradingview.com

Harmony Price Performance

There are a number of worth targets outlined by the crypto analyst for when the Harmony price does break the EMA300. From the present $0.02 degree is an anticipated preliminary 650% leap proper above $0.14 which begins it on its long-term bullish journey.

Related Reading: Solana Breaks New Record, Will This Send SOL Price To $200?

From there, the following goal is positioned at $0.16 which is an 850% transfer from the present buying and selling ranges. However, it doesn’t finish there with a 3rd goal positioned proper above $0.33 which might full the transfer. This final goal would translate to a 1,400% improve.

On its personal, the ONE token is performing fairly nicely considering the circumstances surrounding it. CoinMarketCap knowledge reveals that its worth is up 5.56% within the final day, 40.5% within the final week, and 54.2% within the final month.

Featured picture from Medium, chart from Tradingview.com

Disclaimer: The article is offered for instructional functions solely. It doesn’t signify the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You are suggested to conduct your personal analysis earlier than making any funding choices. Use info offered on this web site solely at your personal danger.