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Bitcoin Buyers Reluctant To Step In, Fear And Greed Index Suggests

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Bitcoin

Data shows the Bitcoin investor sentiment has recently improved, but buyers are still reluctant as fear continues in the market.

Bitcoin Fear And Greed Index Points To A Fearful Sentiment

As per the latest weekly report from Arcane Research, the BTC market sentiment hit a high of 34 last week, but now it has once again fallen to just above extreme fear territory.

The “fear and greed” index is an indicator that measures the general sentiment among investors in the Bitcoin market.

The metric uses a numeric scale that runs from zero to hundred for representing this sentiment. All values above fifty imply greed, while those below the threshold suggest fear.

Values towards the end of the range of above 75 and below 25 signify sentiments of “extreme greed” and “extreme fear,” respectively.

Historically, tops have tended to form during extreme greed, while bottoms have taken place during the periods with the latter sentiment.

Because of this fact, some traders believe it’s best to sell while the market is extremely greedy and buy when investors are extremely fearful.

“Contrarian investing” is a trading technique that echoes this idea. The famous Warren Buffet quote sums it up: “be fearful when others are greedy, and greedy when others are fearful.”

Now, here is a chart that shows the trend in the Bitcoin fear and greed index over the past year:

The value of the indicator seems to have surged up during recent weeks | Source: Arcane Research's The Weekly Update - Week 29, 2022

As you can see in the above graph, the Bitcoin fear and greed has observed some growth recently and is currently at a value of 26, suggesting a fearful sentiment is gripping the market currently.

Preceding this latest improvement in the mentality was a long stretch of extreme fear, the longest in the history of the crypto, in fact. It lasted for 74 days.

Last week, the indicator’s value had risen up to even 34 as the coin’s price saw a recovery rally. However, as the run ended and the crypto once again slumped down, so did the sentiment among the investors.

The report notes that this trend indicates participants in the BTC (and wider crypto) market believe that this recent rally was just a fakeout.

Overall, the sentiment is certainly an improvement over the extreme fear hell of June, but the buyers still remain reluctant.

BTC Price

At the time of writing, Bitcoin’s price floats around $21.3k, down 10% in the last week. Over the past month, the crypto has gained 2% in value.

The below chart shows the trend in the price of the coin over the last five days.

Bitcoin Price Chart

Looks like the value of the crypto has gone down over the last few days | Source: BTCUSD on TradingView
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Arcane Research
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Blockchain

Encryptus and Azadi Embark Upon an NFT Journey To Build Ingenious Use Cases

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Encryptus And Azadi Embark Upon An Nft Journey To Build Ingenious Use Cases

Institutional investments in cryptocurrencies are rapidly increasing despite the current adverse bearish pattern that has dominated the global crypto markets in the last months. The past few weeks have seen fairly consistent trading volumes for Encryptus, a transparent and licensed platform for institutional crypto assets. 

It is on this premise that Encryptus announces its strategic partnership with the renowned record label Azadi Records. The alliance will result in the exploration of the NFT ecosystem and the development of innovative use cases, which will give holders exclusive access to premium content, limited edition merchandise, VIP tour tickets and more.

Several financial firms, including Fidelity, are maintaining a long-term perspective and even deciding to increase their investments in and operations surrounding cryptocurrencies. 

These Institutions are using various strategies to invest in cryptocurrencies, from adding them to their balance sheets to expanding their brand activities into the metaverse. 

NFT is also one of the sectors that institutional investors are continuing to have a lot of faith in after the 2020 NFT boom, especially with the numerous upcoming NFT-specific applications in the metaverse.

Moreso, Shantnoo Saxsena, Encryptus Founder and CEO states; “During the current bearish market, institutional support behind crypto remains strong, and Encryptus is glad to be playing an important role in institutional crypto adoption. It certainly doesn’t hurt that this institutional interest in the crypto market is also working to excite existing investors who were contemplating hastily pulling out of the market.”

Considering how valuable NFTs have become, it is no surprise that Encryptus partnered with Azadi Records, an independent record label keen on providing South Asian artists with a platform to freely express themselves for this extraordinary quest into the world of non-fungible tokens.  

Shantnoo further adds, “Our recent partnership with Azadi Records aims to create a use case for the NFT ecosystem in India in a more compliant manner. Our primary focus is compliance and respect for the law of the land.”

“Nayaab.World NFTs and their utilities will unlock new avenues for artist-fans engagement, building a deeper relationship between them.” Mo Joshi and Uday Kapur, founders of Azadi Records. 

Notably, Seedhe Maut is an artist affiliated with Azadi Records who is launching its own NFT with a tour across the country, in association with Encryptus and LBank. 

This partnership between Encryptus and Azadi Records makes it one of the first Indian music labels to integrate blockchain technology into their operations and also includes the NFT-centric Nayaab.world. 

About Azadi Records

Azadi Records is an independent record label changing the culture in the South Asian Music industry while providing a platform for music that questions, subverts, and engages with socio-political issues of our time. Established in 2017, the label has released records that have cut across languages, themes, and regions with one vision intact: never to be silenced.

About Encryptus

Encryptus started out as a crypto advisory company in London back in 2020, and since then got approvals from a couple of countries for buying and selling crypto assets. Encryptus is operated by an experienced team of experts who thoroughly understand the risks, compliances, and opportunities in the crypto space. We have made it our mission to empower licensed financial services companies in crypto adoption!
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Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

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Flamingo (FLM) Price Prediction 2022 — Will FLM Hit $2 Soon?

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Flamingo (Flm) Price Prediction 2022 — Will Flm Hit $2 Soon?
  • Bullish FLM price prediction is $0.2805 to $1.1864.
  • Flamingo (FLM) price might also reach $2 soon.
  • Bearish FLM  price prediction for 2022 is $0.0853.

In Flamingo (FLM) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about FLM to analyze the future movement of the cryptocurrency. 

Flamingo (FLM) Current Market Status

According to CoinGecko, the price of Flamingo (FLM) is $0.205768 with a 24-hour trading volume of $6,434,942 at the time of writing. However, FLM has decreased by nearly 1.4% in the last 24 hours.

Moreover, Flamingo (FLM) has a circulating supply of 375,129,992 FLM. Flamingo (FLM) trades in cryptocurrency exchanges such as Binance, OKX, Gate.io,  OKX, LBank.

What is Flamingo (FLM)?

The Flamingo token (FLM) is the reward token of the Flamingo platform. Flamingo is a decentralized finance (DeFi) platform based on the Neo blockchain. By supplying liquidity to the liquidity pools, users can earn the token. By casting a vote in the DAO, FLM token owners can influence the Flamingo platform’s governance. 

Flamingo (FLM) Price Prediction 2022

Flamingo (FLM) holds the 347th position on CoinGecko right now. FLM price prediction 2022 is explained below with a daily time frame.

FLM /USDT Ascending  channel Pattern (Source: Tradingview)

The above chart of Flamingo (FLM)  laid out an ascending channel pattern. Ascending channel  also known as the rising channel. The upper and lower trend lines that connect the higher highs and higher lows respectively appear to move within a rising slope. This pattern is generally a characteristic of a bullish trend.

Currently, Flamingo (FLM) is in the range of $0.2012. If the pattern continues, the price of FLM  might reach the resistance levels of $0.2759 and  $0.5797.If the trend reverses, then the price of FLM may fall to $0.1845, $0.1308 and $0.0896.

Flamingo (FLM) Support and Resistance Levels

The chart below shows the support and resistance levels of Flamingo (FLM).

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FLM /USDT Support and Resistance Levels (Source: Tradingview)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Flamingo (FLM). 

Resistance Level 1 $0.2805
Resistance Level 2 $0.5719
Resistance  Level 3 $1.1864
Support Level 1 $0.1588
Support Level 2 $0.0853
FLM /USDT Support and Resistance Levels (Source: Tradingview)
 

The charts show that Flamingo (FLM)  has performed a bullish trend over the past month. If this trend continues, FLM might run along with the bulls overtaking its resistance level at $1.1864

Accordingly, if the investors turn against crypto, the price of Flamingo (FLM)  might plummet to almost  $0.0853,  a bearish signal.

Flamingo (FLM) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Flamingo (FLM) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of FLM lies below the cutoff line, indicating weak  participants in the current trend.

Flamingo Flm Price Prediction 2022 — Will Flm Hit 2
FLM /USDT RVOL, MA, RSI (Source: Tradingview)

Also, the Moving Average (MA) of Flamingo (FLM) is shown in the chart above. Notably,  Flamingo (FLM) price lies above 50 MA (short-term), so it is in an uptrend. Currently, FLM has entered a bullish state. Therefore, there is a possibility of a reversal trend of FLM at any time.

Meanwhile, the relative strength index (RSI) of the FLM is 56.49. This means that Flamingo (FLM) is in an overbought state. However, this means a major price reversal of FLM may occur in the upcoming days. So, traders need to trade carefully. 

Flamingo (FLM) Price Prediction 2022 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of Flamingo (FLM). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

1660365443 541 Flamingo Flm Price Prediction 2022 — Will Flm Hit 2
FLM /USDT ADX, RVI (Source: Tradingview)

The above chart represents the ADX of Flamingo (FLM). Currently, the ADX of FLM lies in the range of 54.5913 and thus, it indicates a very strong trend. 

The above chart also represents the Relative Volatility Index (RVI) of Flamingo (FLM). RVI measures the constant deviation of price changes over a period of time. The RVI of FLM lies above 50, indicating high volatility. In fact, the RSI of Flamingo (FLM) is at 56.49 thus confirming a potential sell signal.

Comparison of FLM with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and  Flamingo (FLM).

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BTC Vs ETH Vs FLM  Price Comparison (Source: Tradingview)

From the above chart, we can interpret that the price action of FLM is similar to BTC and  ETH . This indicates that when  the price of BTC and  ETH  increases  or decreases  the price of FLM also increases or  decreases respectively.

Flamingo (FLM) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  Flamingo (FLM) might probably attain $3 by 2023.

Flamingo (FLM) Price Prediction 2024

With several upgrades in the network, Flamingo (FLM) might enter a bullish trajectory. If the coin grabs the attention of major investors, FLM might rally to hit $4by 2024. 

Flamingo (FLM) Price Prediction 2025

If Flamingo (FLM) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 7 years, FLM would rally to hit $5. 

Flamingo (FLM) Price Prediction 2026

If Flamingo (FLM) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, FLM would rally to hit $6. 

Flamingo (FLM) Price Prediction 2027

If Flamingo (FLM) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, FLM would rally to hit $7. 

Flamingo (FLM) Price Prediction 2028

Flamingo (FLM) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, FLM would hit $8. in 2028.

Flamingo (FLM) Price Prediction 2029

If investors flock in and continue to place their bets on Flamingo (FLM), it would witness major spikes. FLM might hit $9 by 2029.

Flamingo (FLM) Price Prediction 2030

With greater advancements in the Basic Attention TokenEcosystem, the crypto community might continue to invest in FLM for the next 8 years and drive significant price rallies for the token. Hence, Flamingo (FLM) might hit $10 by 2030.

Conclusion

With continuous improvements in the FlamingoNetwork, we can say that 2022 is a good year for FLM. For this reason, the bullish price prediction of Flamingo (FLM) in 2022 is $1.1864. On the other hand,  the bearish price prediction of Flamingo (FLM) price prediction for 2022 is $0.0853.

Furthermore, with the advancements and upgrades to the Basic Attention Tokenecosystem, the performance of FLM would help to reach above its current all-time high (ATH) of $1.59 very soon. But, it might also reach $2 if the investors believe that FLM is a good investment in 2022.

FAQ

1.  What is Flamingo (FLM)?

The Flamingo token (FLM) is the reward token of the Flamingo platform. Flamingo is a decentralized finance (DeFi) platform based on the Neo blockchain.

2. Where can you purchase Flamingo (FLM)?

Flamingo (FLM) has been listed on many crypto exchanges which include Binance, OKX, Gate.io, LBank.  

3.   Will Flamingo (FLM) reach a new ATH soon?

With the ongoing developments and upgrades within the Basic Attention Token Platform, FLM  has a high possibility of reaching its ATH soon.

4.   What is the current all-time high (ATH) of Flamingo (FLM)?

On September  28, 2020 Flamingo (FLM) reached its new all-time high (ATH) of  $1.59.

5. Is Flamingo (FLM) a good investment in 2022?

Flamingo (FLM) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Basic Attention Token In the past few months, FLM  is considered a good investment in 2022.2.

6. Can Flamingo (FLM) reach $2?

Flamingo (FLM) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Flamingo (FLM) will hit $2 soon.

7.  What will be Flamingo (FLM) price by 2023?

 Flamingo (FLM) price is expected to reach $3 by 2023.

8.  What will be Flamingo (FLM) price by 2024?

 Flamingo (FLM) price is expected to reach $4 by 2024..

9.  What will be Flamingo (FLM) price by 2025?

 Flamingo (FLM) price is expected to reach $5 by 2025.

10. What will be Flamingo (FLM) price by 2026?

 Flamingo (FLM) price is expected to reach $6 by 2026. 

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Blockchain

Solana Price Positive As It Trades Near $44, Are The Bulls Back On Chart?

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Solana Price

Solana price has attempted to revisit the $44 price mark again and it is a matter of time till the coin displays its next move. Over the last week the coin rose by 14% and in the past one day there has been a close to 3% increase in market value.

The coin has demonstrated steady recovery in the last 24 hours. At the moment bullish force has built up considerably in the market and it could push price of SOL higher with sustained demand. Technical outlook for the coin remained positive at the time of writing.

Solana price previously in the past had not managed to break past the $44 price mark. For SOL to finally break past that level, demand needs to consistently go up. If the coin does not remain above the $44 level, it would fall to trade near its support zone. The global cryptocurrency market cap today was at $1.21 Trillion, with a 0.6% hike in the last 24 hours.

Solana Price Analysis: Four Hour Chart

Solana was priced at $44.79 on the four hour chart | Source: SOLUSD on TradingView

SOL was trading at $44.79 at the time of writing. After multiple attempts the bulls were again attempting to move past the aforementioned price level. Overhead resistance for the coin stood at $46, however, moving past the $44 price zone will itself be a challenge for the bulls considering the bulls failed twice previously.

Local support for Solana price stood at $40. If the bulls manage to cross the $46 price level then it could touch the  $50 price level. Amount of SOL traded in the previous session increased suggesting increased buying strength.

Technical Analysis

Solana Price
Solana displayed increased buying pressure on the four hour chart | Source: SOLUSD on TradingView

SOL’s technical outlook reflected bullishness on the four hour chart. The moment Solana price moved up, the indicators reflected the same sentiment.

The Relative Strength Index was above the 60-mark signifying that buyers exceeded sellers at press time as demand for the altcoin soared.

Solana price was also above the 20-SMA line and that meant buyers were responsible in driving the price momentum. SOL was above 50-SMA and 200-SMA signifying increased bullish momentum.

Solana Price
Solana was depicting buy signal on the four hour chart | Source: SOLUSD on TradingView

The past week for SOL was quite beneficial to the coin. Over the last week the bulls gathered momentum which is why a push to the $44 mark was possible. Moving Average Convergence Divergence displays the price momentum and the reversals in the same.

MACD underwent a bullish crossover and formed green signal bars which are in accordance with the buy signal and increased demand. The Chaikin Money Flow points towards the capital inflows and outflows. CMF broke past the half-line into a positive zone which meant increased capital inflows.

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Ethereum Price Broke Past $1,800 Despite Higher Demand At Lower Levels

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Ethereum Price

Ethereum price flashed recovery over the last 24 hours after it witnessed consolidation at the $1,800 price mark. Over the last week, ETH logged 20% appreciation. It has been a bullish week for the king altcoin. The last time the altcoin traded around this price level was almost two months ago.

It had failed to topple over the $1,900 zone and had retraced shortly after that. The robust support line for Ethereum price was at $1,600. Ethereum price could possibly witness a sharp change once the Ethereum Merge goes live next month.

The Merge is the transition from proof-of-work to proof-of-stake has been a highly anticipated event for the Ethereum community. This shift from proof-of-work shall diminish the altcoin’s power consumption by almost 99.5%. If the price of Ethereum manages to stay above the $1,900 mark for a substantial period of time, the coin will manage to touch the $2,000 mark price ceiling.

Ethereum Price Analysis: Four Hour Chart

Ethereum was priced at $1,918 on the four hour chart | Source: ETHUSD on TradingView

ETH was trading at $1,918 at the time of writing. The coin had finally managed to move past the $1,800 price region. Ethereum price has to maintain momentum over the $1,900 mark in order to touch the $2,000 price mark.

Overhead resistance for the coin was at $1,970. Local support level for the coin was at $1,700 and then at $1,600 respectively. Incase ETH loses vigour and falls to the $1,600 mark, the inability to sustain at that price level can push the coin to $1,300. The amount of Ethereum traded in the last session was falling which meant that selling pressure was declining at the time of writing.

Technical Analysis

Ethereum Price
Ethereum registered an increased buying strength on the four hour chart | Source: ETHUSD on TradingView

The altcoin’s technical outlook depicted bullishness on the four hour chart. Buying strength for Ethereum also increased as Ethereum price travelled upwards on its chart. The Relative Strength Index was parked above the 60-mark indicating that buyers dominated the market at press time.

If demand for ETH continues to rise, the altcoin might be overvalued leading to a possible price pullback. Ethereum price was above the 20-SMA line, which meant that buyers were driving the price momentum. The altcoin was also above the 50-SMA line which points towards the rising price of the asset.

Ethereum Price
Ethereum displayed buy signal on the four hour chart | Source: ETHUSD on TradingView

ETH’s other important indicators also depicted positive price action. Moving Average Convergence Divergence is supposed to display that price momentum and reversals in the same. MACD witnessed a bullish crossover and flashed green signal bars above the half-line registering buy signal for the asset.

Directional Movement Index is responsible in determining the price direction of Ethereum. DMI was positive as the +DI line was above the -DI line. Average Directional Index (Red) was bordering the 40-mark which meant that the current price direction was gaining strength.

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Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon

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Cardano

Cardano has been one of the cryptocurrencies that have been able to hold despite the market crash. With the recent recovery, the digital asset has seen some movement, although it continues to trend around the same level without any significant swings upward. However, there are some things that are coming up for the network that suggests there might be some upward movement happening soon.

The Awaited Vasil Upgrade

The Cardano Vasil upgrade has been on that has been in the works for a while. It is a hard fork that is meant to make the network more developer-friendly, thereby encouraging more people to build on the blockchain. 

However, the hard fork has been the victim of multiple postponements, which have caused some shifts in the price of ADA. The first time the hard fork was postponed was back in June due to bugs that were found in the network. The next date had to be moved once more when the developers of the network were still not done with the bugs, as they wanted to make it safe to interact with.

That has seen the launch date of the hard fork moved to August. But unlike the last two previous times that saw the upgrade postponed, Cardano founder Charles Hoskinson has assured the community in a video that he does not believe that there will be any more delays for the hard fork. 

ADA trending at $0.5 | Source: ADAUSD on TradingView.com

Cardano founders recently released a document that showed that they had made a decision on the final node for the hard fork. The Node 1.35.3 had apparently fixed the pressing issues found in previous versions that had delayed the launch and provided some CLI enhancements according to them. So they expect the hard fork to launch successfully on the mainnet with this node.

Cardano Price May Respond Well

With a more definite answer on if the Vasil hard fork is close to completion, Cardano investors are more confident to begin making decisions regarding the token. ADA still remains stagnant at $0.5, but present accumulation trends suggest that there might be a turn in this soon.

There is also the fact that the entire crypto market continues to rally behind the anticipation of the Ethereum Merge. Ethereum developers have said they expect the Merge to happen sometime in September, and with the Vasil hard fork expected to go live sometime before, it would put the two important upgrades close together.

Anticipation of both of these events will likely feed each other, given they are both smart contract networks, and trigger an upward push in price. If all launches go according to plan, ADA is likely to hit $0.7 by the end of September.

Featured image from Zipmex, chart from TradingView.com

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TA – Harmony (ONE) Price Shows Bullish Signs

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Ta - Harmony (One) Price Shows Bullish Signs

The price of Harmony (ONE) has shown bullish signs and could be set for a major run against Tether (USDT) as it eyes $0.04. 

Ethereum price rallied with so much strength from a region of $1,670 to $1,924 ahead of Ethereum merge. This has brought relief bounces for many altcoins including the price of Harmony (ONE).

Ethereum merge is an upgrade on the Ethereum network from Proof-Of-Work (POW) to Proof-Of-Stake (POS) so as to increase its network efficiency in transactions. (Data feeds from Binance)

Harmony (ONE) Price Analysis On The Weekly Chart

ONE Weekly Price Chart | Source: ONEUSDT On Tradingview.com

From the chart, the price of ONE saw a weekly low of around $0.0168, which bounced from that area and rallied to a price of $0.02950.

The price has built more momentum as it faces resistance at $0.037.

If the price of ONE on the weekly chart continues with this bullish structure, it could quickly revisit  $0.037 and trend higher to $0.04.

Weekly resistance for the price of ONE – $0.03.

Weekly support for the price of ONE – $0.0168.

Price Analysis Of ONE On The Daily (1D) Chart

1660342222 891 Ta Harmony One Price Shows Bullish Signs
ONE Daily Price Chart | Source: ONEUSDT On Tradingview.com

The price of ONE found strong support at around $0.0266, with what seems to be an area of interest on the daily chart.

ONE bounced from its support and has rallied as it faces resistance at $0.04. The price of ONE ranged in an asymmetric triangle before breaking out and forming support above it.

At the point of writing, the price of ONE is at $0.02960, above the 50 Exponential Moving Average (EMA) with a price of $0.0266.

If the price of ONE holds the support of $0.0266 successfully, we could see the price trending higher. If the price of ONE gets rejected, $0.0266, which corresponds with 50 EMA, will be good support for buys.

The Relative Strength Index (RSI) for the price of ONE on the daily chart is above 65, indicating healthy buy bids for ONE.

The volume for ONE indicates buy bids, this shows bulls would want to push the price higher.

Daily (1D) resistance for ONE price – $0.04.

Daily (1D) support for ONE price – $0.0266, 0.024.

Price Analysis OF ONE On The Four-Hourly (4H) Chart

1660342222 251 Ta Harmony One Price Shows Bullish Signs
Four-Hourly Price Chart For ONE | Source: ONEUSDT On Tradingview.com

The price of ONE has continued to maintain its bullish structure after a successful break above the asymmetric triangle and retesting to form a support. 

ONE is trading above the 50 and 200 EMA with prices of $0.0258 and $0.0242 acting as its support on the 4H chart, should the price of ONE gets rejected due to the weekend sell-off.

If the price of ONE holds above the support of 0.02790 with a good volume, we could see the price trending to $0.04. In case ONE experiences a sell-off, 50 and 200 EMA prices would act as support for ETH prices.

Four-Hourly (4H) resistance for ONE price – $0.04.

Four-Hourly (4H) support for ONE price – $0.0258, $0.0242.

Featured image from TronWeekly, Charts from TradingView.com 
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