The macroeconomic image and elevated geopolitical stress have seen Harmony (ONE) drop fairly considerably since January. Though there have been intervals the place the token has threatened to rise, it has all the time come crashing again down. However is that this about to alter? Listed below are some highlights first:
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Concord (ONE) has established a robust demand zone between $0.106 and $0.121.
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At press time, the coin was barely buying and selling above that at $0.125.
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If ONE enters that zone, we might see some elevated shopping for from bulls.
Knowledge Supply: Tradingview
Concord (ONE) – Is a bull run possible?
As famous above, for many components of 2022, Concord (ONE) has largely been on a downtrend. It’s extremely unlikely that this bearish pattern will reverse within the close to time period. As it’s, sentiment within the crypto market stays largely fearful as traders weigh in elevated macroeconomic and geopolitical pressures.
However short-term bull runs are nonetheless doable for Concord (ONE). The coin is presently headed to an necessary demand zone of between $0.106 and $0.121. That is probably going to set off a bullish run that would push ONE in the direction of $0.164 within the close to time period.
This can symbolize a 30% achieve from the present worth, which at press time was $0.125. However sustained beneficial properties above $0.164 can be extremely unlikely. ONE is more likely to pull again as soon as it assessments that worth and attempt to discover extra demand as soon as once more.
Why is Concord (ONE) undervalued?
The important thing for any investor is to discover a crypto asset that’s undervalued, and Concord (ONE) is considered one of them. The coin has fallen sharply from all-time highs and has been reporting losses for many components of 2022.
However the undertaking nonetheless has plenty of potentials, and the underlying fundamentals are superb. Actually, the final outlook for Concord in 2022 remains to be very constructive regardless of current turmoil. It’s a nice asset to seize proper now.