ONE Technical Analysis: Bearish Divers Enter Deep Waters Below $0.12
Table of contents
Under the influence of a death crossover, the ONE coin price falls below the $0.85 zone resulting in the head and shoulder fallout. The neckline breakout dives below the $0.74 support level and hits the $0.65 mark. Will the downtrend continuation reach $0.50?
Key technical points:
Past Performance of ONE
The ONE token price fails to rise above the 50-day EMA and the $0.21 mark, resulting in a downfall below the 200-day EMA. The decline continues to dive deeper with the breakout of $0.16 and $0.12. Hence, the increased selling pressure is evident by the fracture of multiple support levels in the last month.
Source-Tradingview
ONE Technical Analysis
The ONE coin price correction phase shows a non-stop rally as the multiple support levels fail to halt the downfall. However, the next support level at $0.10 and $0.082 mark can help bottom creation.
The crucial 50, and 200-day EMAs showcase death cross in the daily chart as the bearish continuation continues. Moreover, the 100-day EMA continues to downfall to give a bearish crossover with the 200-day EMA.
The RSI Indicator slope enters the oversold with the lower low formation after failing to surpass the central line. Hence, a reversal can be observed shortly from the next support level.
The MACD indicator shows that the fast and slow lines maintain a negative trend below zero values. Moreover, the MACD histograms continue the negative trend in the daily chart.
In short, the ONE technical analysis projects the idea of reversal from the next support at $0.082.
Upcoming Trend
The ONE coin price shows the bearish trend continuation as the overall crypto market is undergoing correction. Therefore, the anticipation of the upcoming trend remains bearish with the possibility of $0.10. However, a reversal near the $0.082 is possible as the RSI indicates the oversold nature of the token.
Support Levels: $0.10 and $0.082
Resistance Levels: $0.12 and $0.16