The Concord blockchain fell sufferer to one of many most infamous hacks in decentralized finance (DeFi) history and the fallout from that assault in 2022 noticed the ONE value tank tremendously, shedding over 98% of its all-time excessive worth. Nevertheless, one yr later, the cryptocurrency appears to be making a comeback as traders and merchants flip bullish as soon as once more.
Crypto Analyst Predicts Nice Issues For ONE Token
Crypto analyst Alan Santana has shared an evaluation of the ONE token, the native cryptocurrency of the Concord blockchain. On this evaluation that focuses on one of many forgotten giants from the DeFi summer time of 2021, Santana paints a moderately bullish image, the type that hasn’t been shared for some time now.
The evaluation focuses on the ONE/BTC pair which exhibits nice promise in comparison with the ONE/USDT pair. This comes after the coin hit a brand new low of $0.008 this yr, earlier than rebounding, and this rebound appears to be the premise of its bullish pattern.
Santana defined that this specific progress had begun in October and has to date sustained provided that the value is up greater than 100% since then. Nevertheless, the best way ahead remains to be not fully clear as t
he crypto analyst factors out that whereas the cryptocurrency has been in a position to break above its 200-day transferring common (MA), it’s now dealing with much more resistance. This resistance is now distinguished on the 300-day exponential transferring common (EMA).
Supply: Tradingview.com
With the resistance transferring upward, help for the coin has fashioned on the EMA200, proving to be an necessary degree for the coin. From this degree, a break above the EMA300 is definitely what is required for the altcoin to verify its breakout from right here.
Santana posits that when this break occurs, it’ll verify the long-term progress potential for the ONE price. At this level, buying and selling quantity is predicted to soar “and the day by day classes/candles turn out to be actually large,” the analyst explains.
Harmoney at $0.02 | Supply: ONEUSDT on Tradingview.com
Concord Value Efficiency
There are a number of value targets outlined by the crypto analyst for when the Harmony price does break the EMA300. From the present $0.02 degree is an anticipated preliminary 650% leap proper above $0.14 which begins it on its long-term bullish journey.
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From there, the following goal is positioned at $0.16 which is an 850% transfer from the present buying and selling ranges. Nevertheless, it doesn’t finish there with a 3rd goal positioned proper above $0.33 which might full the transfer. This final goal would translate to a 1,400% improve.
By itself, the ONE token is performing fairly properly considering the circumstances surrounding it. CoinMarketCap knowledge exhibits that its value is up 5.56% within the final day, 40.5% within the final week, and 54.2% within the final month.
Featured picture from Medium, chart from Tradingview.com
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