Cross-chain scaling network Harmony has entered a new bull run. The altcoin project’s native token, ONE, is targeting $1 towards the end of the year when it seems unstoppable at current price levels.
The ground is ready for higher levels in altcoin price!
According to analyst Ali Martinez, Harmony (ONE) price is in full price exploration mode and appears to be heading higher after breaking critical resistance. The upward impulse allowed the price of ONE token to break the $0.225 resistance barrier to enter exploration mode. It now faces very little opposition, which prevents it from reaching new record levels.
Technically speaking, Harmony’s price action since the end of March has resulted in a cup and handle formation on the daily chart. This type of technical pattern is considered a bullish signal indicating an ascending uptrend and is used to detect long-term opportunities.
Such a bullish target is determined by measuring the distance between the bottom of the cup and the breakout level of the formation, and this distance is extended upwards without breaking.
As long as Harmony stays above the $0.225 support, the optimistic outlook will hold. Any signs of weakness at this level can encourage investors to sell and avoid potential losses. If this happens, the ONE token will target $0.16 in a bearish scenario.