Harmony One Price Prediction: A Likely Trend Reversal

Summary:
• The month of April was tough for Harmony One, as the cryptocurrency shed more than 50 per cent of its value.

The month of April was tough for Harmony One, as the cryptocurrency shed more than 50 per cent of its value. However, the drop in April was a continuation of a long-term trend that has seen Harmony one losing 63 per cent of its value year-to-date.

However, in today’s trading session, the prices are showing signs of a bullish move. This is after gaining in the market by more than 3 per cent. Since the month of May started, Harmony One has also shown increased bullish signals, resulting in 12 per cent price gains for the month.

Harmony One Price Prediction

The month of May is showing signs that the Harmony One crypto may be on a path to recovery. The monthly jump of 12 per cent indicates the current trend is an aggressive bullish move.

However, the cryptocurrency is still looking to be in a long-term bearish trend even with the latest price jump. There is still a high likelihood that the monthly gains may be due to price corrections. The pattern forming right now may be a bearish flag in anticipation of another strong push to the downside.

Using price action and the chart below, we can see signs that the trend may be reversing. Therefore, my Harmony One price prediction expects the prices to continue with an upward trend for the next few sessions. However, the RSI indicator confirms that there is a high likelihood that what we see in the markets may be a price reversal to the upside.

The chart also gives the impression of a likely hood that the prices will be trading above $0.1 in the next few trading sessions. This is because the prices recently hit the $0.071 support level and bounced off strongly, rising by 13 per cent in May 1st trading session. The toughing of the support level and failing to break down is a signal of a new bullish trend.

Harmony One Daily chart