In today’s trading session, Harmony One price is dropping. This is a continuation of the past two days that have resulted in the Harmony One prices dropping. The drop in price comes amidst a string of positive news about the platform. This includes the reports that indicated that Harmony One would be investing in LootMogul Sports Gaming metaverse.
The LootMogul Gaming platform engages with influencers from NBA, WNBA, MLB, ICC, Olympics, College, and high school. The investment into the platform will see Harmony One reaching a new group of users. The investment is also likely to increase the number of Harmony One users. According to Raj Rajkotia, the founder & CEO of LootMogul, the partnership will allow his company to build a scalable blockchain product for their entire sports and cryptocurrency community. As a platform, Harmony one will also have its own metaverse in the Harmony Metaverse system.
In my March 24 Harmony One analysis, the prices were trading at $0.136, and I predicted the likelihood of the prices hitting the $0.172 resistance level. Recently, the prices hit the resistance level. However, the prices traded sideways for a few days rather than break out and continue the bullish move. A push to the downside followed this. Today, Harmony One is trading at $0.149. The cryptocurrency is also showing signs of a continuation of the current bearish move.
Looking at the daily chart below, we can see that the prices have broken below the ascending trend line. In addition, we can also see the prices trading downwards at high volatility. Putting all these factors together, my Harmony One price prediction shows the prices will continue with their downward move until it hits the $0.11 support level.
However, if the prices retrace back to the trendline and then bounce from the trendline to the upside, my analysis will be invalidated. It will also mean there is a high likelihood of a bullish move.
This post was last modified on Apr 06, 2022, 14:13 BST 14:13