ONE Technical Analysis: Bulls Surpass The Resistance Trendline

Time Stamp: February 26, 2022 4:30 AM
Source Node: 1188128

ONE Technical Analysis

ONE coin price sustains above $0.12 after showing rejection from $0.10. Moreover, the reversal breaks above the steep resistance trendline.  The ONE coin price sustains above the $0.12 mark with the 16% lower price rejection from $0.10. The rejection leads to a bullish rally of 20% in the past 36 hours as it breaks above the long-coming resistance trendline. Will the upcoming rally surpass the $0.16 mark? Key technical points: ONE price action breaks above resistance trendline The RSI slope surpasses the 14-day average The 24-hour trading volume in the ONE token is $223 Million, indicating a 10% rise.  Past Performance of ONE ONE coin price creates a morning star pattern near the $0.12 mark, with a long tail formation ranging from $0.10. Following the morning star, the altcoin price breaks above the steep resistance trendline generated by the previous lower high formations. The ongoing rally may shortly reach the $0.18 mark. Source-Tradingview ONE Technical Analysis  The ONE coin price shows a bullish continuation after the resistance trendline breakout with the surge in buying pressure. However, a retracement to retest the trendline breakout is possible. The altcoin price shows a death cross in the daily chart as the 50-day EMA falls below the 200-day EMA. Moreover, the falling 100-day EMA increases the chances of another bearish crossover. Therefore, the EMAs can provide dynamic barriers to bullish attempts. The Stochastic RSI indicator the K and D lines gaining momentum as the sharp show a sharp growth after the bullish crossover. The lines may shortly enter the overbought territory indicating a bull cycle in action. The RSI Indicator slope shows a sudden surge as the buying pressure increases. The slope surpasses the 14-day averages and approaches the central mark. Therefore, the indicator indicates the possibility of a $0.18 breakout.  In short, the ONE technical analysis shows a bullish bias, and hints of the rally reached the $0.20 mark. Upcoming Trend The ONE coin price shows bullish continuation after the engulfing candle that broke above the resistance trendline. Hence, the trendline breakout brings an excellent buying spot at current prices with the increasing possibility of $0.20 breakout.  Support Levels: $0.12 and $0.10 Resistance Levels: $0.20 and $0.25

The post ONE Technical Analysis: Bulls Surpass The Resistance Trendline appeared first on Cryptoknowmics-Crypto News and Media Platform.

Time Stamp:

More from Cryptoknowmics