Will Harmony Bounce From $0.16 And Make New ATH?

Harmony (ONE/USD) is one of the few coins to make a new high in January. However, it is now down over 50% from a new all-time high. This is mainly due to the sharp sell-off in the broader market. Harmony was a coin that has fallen significantly more than other coins over the past week. The tokens are used to pay for various fees, including transaction fees, storage fees, and gas fees. With the help of the ONE tokens, the holders are granted voting rights as part of the platform's governance system.

Harmony is trading back to the levels from which Harmony recovered earlier in the month. Therefore, it could be a great opportunity for investors who missed the previous rally to buy Harmony, however, investors need to be patient and wait for a clear reversal as Harmony could still break the support level and continue lower. Harmony is currently one of the leading De-Fi projects and has seen a huge increase in users and has also launched a $300 million developer incentive. Harmony was also one of the best performing coins in 2021 and investors are expecting another strong year on the back of strong financials. So should you buy Harmony before there is another rally?

Harmony is down more than 50% after hitting a new all-time high earlier in the month and is now trading back at the $0.162 support, so it could see a reversal soon.
However, investors should wait until Harmony is able to break the 200-day moving average.
Harmony is very close to the oversold zone, so buyers may return soon.
Investors can expect a price target of $0.26, followed by $0.33.

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