Technicals Show Harmony Potentially Increasing 100% in Price
It seems like the altcoin season may be reserved for a select few. Harmony (ONE) is exhibiting signs of a price jump that could see its value double in the coming weeks.
In a week where altcoins have generally performed poorly, Harmony has shown resilience in the market. The cryptocurrency managed to register gains in a challenging week.
$ONE – Average entry 79-80 sats
Targeting 140 sats
Will manually cut below 70 pic.twitter.com/HwvZNL0eIr
— TraderXO (@TraderX0X0) December 4, 2019
From the chart, Harmony probably hit its bottom in Oct and is on the path of recovering value it had lost earlier in the year. The downward trend slows down towards Oct before the rise is registered in November.
With the cryptocurrency currently priced well below other altcoins, it may be the best bet for traders before it eventually blows up in 2020.
Harmony’s performance shows promise and maybe the best for traders who want a good ROI. The price of the cryptocurrency is currently low, with the potential to grow in a short period. Purchasing Harmony at this time, according to Crypto Bombshell, would likely result in a 100% ROI.
— CryptoBombshell 🐸🧢 (@cryptobombshell) November 16, 2019
The falling wedge lines show Harmony reaching its bottom and subsequently preparing for a rise.
Bullish on Harmony
Various cryptocurrency analysts are bullish on the future of Harmony. Besides the technical analysis, most of them cite, the project has been making some meaningful decisions in 2019.
Some partnerships are likely to come to fruition, between Harmony and other blockchain companies, which may positively affect the price of the cryptocurrency. Platforms such as TroyTrade have shown their interest in working with Harmony in R&D.
Harmony also achieved a market cap of $14.76 million recently, a positive deviation showing the cryptocurrency’s potential.
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Sal Miah is the senior editor at Blockspectator News and is a regular contributor to a variety of cryptocurrency news websites and projects. He has written hundreds of articles on numerous topics related to blockchain and also has a special interest in financial markets. Contact him directly at email@example.com