Technical Analysis of Harmony (ONE/USDT) by Blaž Fabjan

6월 20일

Technical Analysis of Harmony (ONE/USDT) by Blaž Fabjan

The chart of Harmony (ONE/USDT) shows a falling wedge formation, indicating a potential trend reversal and possible price increase. I will analyze various indicators and identify good entry and exit points for intraday and swing trading.

Indicator Analysis

Volume: Currently, the volume shows a slight increase, which could support a trend reversal if accompanied by further volume growth.

Market Cipher B: This indicator shows divergences, suggesting a possible trend change. We observe green dots, usually a signal for potential upward movement.

RSI (14, close): The RSI is at 46.06, indicating a neutral state. It is not in the oversold territory (below 30), which would suggest a potential upward reversal, but it is in the lower half, indicating a possible trend reversal upwards.

Stochastic RSI (14, 1, 3): The Stochastic RSI is at 86.15, indicating overbought conditions, which could mean a short-term pullback before the trend reverses upwards.

Intraday Trading

Entry Points:
At the current price (around 0.01560 USDT), when volume starts to increase.
At the support line of the wedge (approximately 0.01520 USDT), if retested.

Exit Points:
First resistance level (around 0.01680 USDT).
Second resistance level (around 0.01850 USDT).

Swing Trading

Entry Points:
Upon breaking out of the wedge upwards (around 0.01600 USDT), confirmed by higher volume.
At the current price (around 0.01560 USDT), with confirmation from indicators (e.g., green dots on Market Cipher B).

Exit Points:
First resistance level (around 0.01850 USDT).
Second resistance level (around 0.02000 USDT).
Third resistance level (around 0.02200 USDT), if the trend is strong.

Conclusion
The chart shows potential for a trend reversal due to the falling wedge formation. It is essential to monitor indicator confirmations and volume for entry and exit points. Intraday traders should pay attention to short-term fluctuations and rapid volume changes, while swing traders can aim for larger gains upon confirmation of the trend reversal.