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Harmony (ONE) price prediction for 2022

 


2022 seems to be a strong year for many projects. Some of them are currently working on promising features for the next year. Harmony is one of them.


Harmony (ONE) is the only project worldwide that uses a cross-sharding mechanism that significantly increases the speed of transactions. In addition, Harmony is one of the most secure networks of its kind as the nodes are selected at random.


In the following forecast for the Harmony (ONE) price in 2022, we analyze the tokens and include several factors in order to make a realistic assessment of the possible price development.


Harmony is a Layer 2 blockchain protocol, ie a protocol that is built on the blockchain and adds additional features to it. The protocol facilitates the development of decentralized applications ( dApps ) as it offers higher speeds at lower costs .


This is achieved through a network of nodes (1000 nodes, 800 of which are operated by the community) and the sharding mechanism . Sharding technology divides the network into different segments called shards . Each of these segments can validate its own transactions at the same time. This will greatly improve the speed of the network. 


In addition, Harmony uses a proof-of-stake consensus, which sets it apart from other networks that use sharding but instead use a proof-of-work consensus. Ultimately, the security of the network is reinforced by the random selection of nodes .



Tokenomics

Harmony uses ONE, its own token. It is used as a means of payment for various activities and enables users to operate in the Harmony ecosystem. 


There are three main functions for ONE: 


Staking in EPoS mode to earn rewards

Pay for transaction fees

Voting rights in governance issues

The token has a maximum inventory of 12,600,000,000 tokens, of which 11,476,723,397 are in circulation.


ONE-Analyse

ONE's price has fallen since it hit an all-time high of $ 0.38 on October 26th. The downward move continued through December 4th, ending at a low of $ 0.233. Since then, the ONE price has been in an upward trend and reached a high of 0.266 USD on December 22nd.


Another bullish development is the overlap between the low of November 18th and the high of December 19th (red line). This suggests that the current decline is a correction. It is therefore likely that a new upward move started on December 4th . ONE price also follows a descending resistance line that is currently at $ 0.26. The climb is expected to accelerate once the ONE price breaks through this line.


Harmony (ONE) price prediction for 2022

Upward movements usually take place in five waves . Three of them are bullish while two of them are bearish. The first upward movement started in March 2020 and developed over a period of 154 days. In it, ONE rose by 1.100%. The second started in January 2021 and developed over 89 days. It was much steeper than the first as ONE was able to gain 5,400%.


While the current upward movement lasted 126 days, ONE is only up 668%. This movement was the shortest of the three movements in its order of magnitude. Due to the aforementioned intersection, it seems possible that this movement is not yet completed is . A possible high of the entire move is at $ 0.80.This is formed by the 4.2 fib retracement level (white) when measuring the decline from April to July. This could be the climax of the entire market cycle. Thereafter, the ONE price should correct significantly and possibly confirm the previous high at USD 0.22.


Will cross-sharding catch on? 


There are only a few blockchain protocols that use a sharding mechanism as a scaling solution. Other scaling solutions are, for example, the Lightning Network, Segwit2x and the Raiden network. It remains to be seen whether one of these solutions will establish itself as the standard for cryptocurrencies. Harmony is also doing a fantastic job of improving security through its random function. This solves one of the major disadvantages of sharding.

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