ONE Technical Analysis: Trendline Keeps Buyers Under Radar
Key technical points:
Past Performance of ONE
ONE token price shows a drastic bearish fall in the daily chart starting from the $0.16 level to breach under the psychological mark of $0.10. Then, however, the prices take a bullish spin from the $0.080 level after a downfall of 55% last month to reach the resistance trendline as it surpasses the $0.085 mark.
Source-Tradingview
ONE Technical Analysis
ONE token price shows a lack of bullish commitment as the trading volume shows a falling trend increasing the chances of a reversal. However, traders must wait for a price action confirmation to avoid underlying charts' underlying traps.
The falling prices keep holding at the support band but struggle to reach the midline as the resistance trendline opposes the growth.
The MACD and signal lines give a bullish crossover in the negative territory, project the start of positive histograms and represent a bull cycle.
The RSI values show a bullish recovery with high growth potential as the slope exits the oversold zone and surpasses the 14-day average. However, the sideways trend developing after the breakout signals a weakness in the uptrend.
In a nutshell, ONE technical analysis displays a potential reversal from the resistance trendline.
Upcoming Trend
ONE market price will provide a buying opportunity above the psychological mark of $0.10 with a potential target at $0.12. Thus, the breakout rally will offer bullish traders a sweet 20% rally. On the opposite end, a reversal from the support trendline will drive the buyers nuts, as the downtrend might test the $0.060 mark.
Support Levels: $0.080 and $0.060
Resistance Levels: $0.10 and $0.12
