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Will ONE hit the $ 0.35 resistance level anytime soon?


 

The cryptocurrency market has underperformed over the past few weeks, with the market dropping nearly $ 1 trillion since hitting an all-time high.

The total market cap of cryptocurrencies has fallen below $ 2 trillion for the first time in months. This latest development is due to the fact that the prices of most coins have lost more than 10% of their value in the past week.

Bitcoin has dropped to the USD 41,000 level and there is a risk that it will continue to fall towards the USD 38 support level in the coming hours. Ether could also plunge below the $ 3,000 support level if current market momentum is maintained.

ONE, the native token of the Harmony blockchain, has proven itself excellently today. The coin crossed the $ 0.33 resistance level today but pulled back following the decline in the broader cryptocurrency market.

ONE's performance was fueled by the introduction of NFTs on the Harmony blockchain from VinFast, a global EV brand, and AAG Ventures, a pioneer in the Web3 space. Harmony's low gas fee is one of the attractive features of the blockchain.

ONE has lost more than 3% of its value in the past 24 hours and is now trading at $ 0.29 per token. Even so, it could go higher soon if the bulls regain control of the market.

An overview of important levels

The ONE / USD 4-hour chart is currently one of the most bullish on the market despite the poor performance of the coin. The technical indicators are positive and ONE could soon regain part of its depreciation.

The MACD line is above the neutral zone, which shows positive momentum for the cryptocurrency. The RSI of 47 shows that it could still move into the overbought territory if the bulls regain control.

If positive momentum returns, ONE could rise above the USD 0.35 resistance level over the weekend. A longer rally could hit a high of $ 0.40 in the coming days.

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