Harmony One closed the markets in yesterday’s trading session at $0.025. The day was marked by a strong bearish move that saw the crypto wipe out gains made the previous day. However, in today’s trading session, the Harmony One price looks poised to erase yesterday’s drop in the market and set a new price high. Harmony One is already up by 7 per cent, and the prices are looking likely to continue rising throughout the session.
What does Harmony One do?
As a developer looking to create decentralized applications (dApps), Harmony One may be able to offer you a one-stop solution for your needs. The platform is a decentralized blockchain-based solution that offers tools and functionalities that allow the development of dApps. In addition, users can also be able to host and manage their dApps using Harmony One.
Harmony One has continued to gain traction in the market because of its use of random state sharding. The functionality allows for the creation of blocks in seconds. The platform also focuses on processing speed and validation, giving it an edge over its competitors. To ensure that nodes are protected, and there is a secure validation process, Harmony One also uses the Verifiable Random Function (VRF), which allows it to have unbiased and unpredictable shard membership.
Harmony One price prediction
The daily chart below shows the price is up by 7 per cent in today’s trading session. The chart also shows that, despite today’s aggressive bullish trend, the crypto has been stuck in a sideways market for more than a week. Also, today’s push to the upside will only reverse yesterday’s price drop. However, the surge will have little to no impact in the larger context of establishing a trend.
Therefore, based on recent price action, my Harmony One price prediction expects the prices to continue trading sideways. There is a high likelihood for the prices to hit either the $0.022 support level or the $0.29 resistance level. However, it is unlikely we will see a break and a new trend beginning. However, should the prices break out on either side of the support and resistance levels, then my sideways analysis will be invalidated. It will also mean a possible new trend confirmation.