Harmony Price Prediction 2023: Can Bulls Trigger a Rally to Reach $0.1?

Key Takeaways:

• The Harmony price is consolidating at the lower range after dropping from an interim resistance with a lowered volume and volatility
• The bulls are trying hard to revamp a fine upswing, but the bears appear to be strong enough to restrict the price below crucial levels
• Besides, the development activity has reached the ground levels that may fuel the bearish sentiments among the traders in the long term

Harmony Overview as of 14 June 2023

ONE Price Forecast for this Week

The price faced a massive downfall, and since then, it has been trading sideways within a squeezed channel. The volatility has diminished as the bulls remain aloof and the bears appear to be exhausted. Currently, a smaller chance of a rebound is expected as the technicals are going bearish, which highlights the possibility of a fresh plunge in the next few days. 

The rally sustains above the crucial support at $0.01, which indicates the bulls are maintaining the levels at $0.01. Besides, the price is constantly failing to rise above $0.0116 as the bears have capitulated at these levels. Therefore, an extended squeeze within a narrow region may usually cause a massive breakout towards the north. Hence, the Harmony price prediction for this week is largely bullish, as a strong breakout may be expected any time from now. 

Harmony Price Prediction for June 2023

After the recent downfall, the ONE price has exhausted all the gains incurred since the beginning of 2023. The bearish actions could have dragged the price towards lows below $0.01, but the bullish intervention has delayed it for a while. The bearish clouds continue to hover over the ONE price, and hence, if the bulls fail to lift the price, the token may mark new lows for 2023 below $0.009 very soon. 

The technicals have turned largely bearish, with the strength of the rally being slight towards the north. Therefore, the trend is expected to remain consolidated around $0.01 but may certainly not secure a high above $0.011 for a while. However, the possibility of an extended bearish action may not be eliminated, as multiple factors may create an imbalance within the crypto space soon. Hence, the ONE price prediction for the month is slightly bearish, with targets around $0.0097.

Harmony Price Prediction 2023-2024

The price had a bearish close for 2022, but the start of the year was largely bullish. The price soared by 200% to mark highs close to $0.03. Here’s when the bears began to extract their profit, slashing the price heavily to the current levels of around $0.01. Presently, the price is consolidating within a narrow range and may soon trigger a healthy upswing in the second half of 2023. By the end of the year, the Harmony price could rise beyond $0.018, and an extended bullish trend may lift the price close to $0.02.

With a bullish close, the upswing may continue for the first few weeks of 2024, when the price may mark new yearly highs above $0.065. By the mid of quarter two, the markets may face a minor bearish action which may drag the price by 15% to 20%. However, with the beginning of the second half of 2024, the upswing may transform into a bull run. The prices by the end of the year may reach levels above $0.12 to $0.15.

ONE Price Prediction 2023-2050

Harmony Technical Analysis

Source: Tradingview

• The ONE price is trading within a descending trend since the beginning of the month and hence is believed to maintain a similar trend for long
• The Bollinger band has maintained a similar pattern of undergoing a squeeze and later breaking down from the channel. Presently, the bands have again squeezed that indicates the price is due for another bearish action
• Besides, the ADX and StochRSI both are turning bearish, substantiating an incoming  bearish trend 
• Therefore, the price is now believed to drop and mark the bottom close to $0.088, above which a significant rebound may be expected

Will Harmony Price Drop Again in 2023?

The Harmony price has been withstanding acute bearish pressure as the selling volume has been haunting the trade largely. This indicates that the bulls continue to remain aloof and wait for the right time to utilize their accumulated strength. Hence, fewer possibilities of a massive downfall can be expected in 2023, but a few bearish actions may certainly create huge volatility with the ONE price. 

Harmony On-Chain Analysis Overview

Harmony Development Activity

Source: Santiment

Development activity is one of the essential metrics that may impact the sentiments of market participants in the long term. The activity is recorded on the GitHub repositories and calculated based on the number of commits submitted on the platform. These commits could be either the number of queries or responses, upgrades, or features submitted over the platform.

The rise or drop in activity suggests how serious the development team is about delivering a decentralized, workable product with frequent upgrades. Presently, the activity has dropped and reached its lowest levels. This may make market participants unsure of the prospects of the project, which may negatively impact the value of the token. 

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