ONE/USD The overall trend of the price continues to rise, however, for the past three weeks, ONE price has been going through a retracement phase, now holding a decent support from the $0.227 support. If the price was able to retrace the previous All-Time High of $0.38, it might have a good chance to continue its rally.
Important Technical Points
- WHAT’S THAT The price retraced the 20 and 50-day EMA lines.
- ONE price broke out from the falling chart channel pattern on the four-hour time chart.
- The intraday trading volume on ONE is around $392.1 million, which is an increase of 73.8%.
ONE/USD chart It was previously strongly rejected from the $0.38 resistance level and entered a sharp retracement phase. This pullback caused the price to bounce back to the $0.227 support and created enough ‘demand pressure’ to continue the rally.
Important EMAsAccording to (20, 50, 100, and 200), the overall trend of this altcoin is bullish. Also, WHAT’S THAT The price also managed to retrace the 20 and 50 EMA lines.
Relative Strength Index (54)indicates a bullish run in the altcoin. Also, RSI lineIt also broke the resistance trendline, reflecting the increasing strength of market buyers.
ONE/USD Chart: 4-Hour Timeframe
Looking at the 4-hour time frame, it seems to have resonated in the falling parallel channel pattern. ONE price managed to break out of this pattern and it was a great confirmation for a reversal.
The altcoin must pull back for support from the descending trendline and then confirm this breakout and help the price reach the All-Time High resistance at $0.38.
Based on traditional pivot levels, crypto traders could mark the closest support level for this coin at $0.285. On the other hand, it could mark resistance levels at $0.33 and $0.365.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.