Cryptocurrencies

ONE technical analysis

ONE seen from the temporality of 1W we can observe how the price has realized a correct retest of the monthly support located in the 0.00511 where the price has found bullish impulse for the testing of the high range located in the 0.00610, we see how the price has formed within the smaller figure an upward triangle indicated in the chart above by the dark blue diagonal, if the price achieves the close above the weekly bid, the probabilities of a much larger bullish move are very high, our first profit target is located within the price range of 0.00814 – 0.00935, this target could be easily achievable once the price achieves the close above the resistance.

ONE seen from the temporality of 1D we can observe more closely the current movement of candles where we see a marked pattern of double floor as a signal of reversal of trend, as I mentioned in previous analysis, this is a pattern that many other USDT pairs are forming as a bullish signal of the last movement of BTC, in the chart above we can see the test that the price has made in the high range located at 0.00642, the price should find the necessary push for a continuation bullish within the zone of demand in 1D located within the price range of 0.00539 – 0.00580, indicated in the chart above by the light blue rectangle, for now we have a closing of the diagonal drop in 1D that we can observe through the diagonal dark blue, the price still does not make the test, so we must be very attentive in 4H.

In conclusion, ONE presents an excellent bullish movement after having found support at 0.00511, this has motivated the formation of a bullish pattern that should conclude with a continuation of the movement towards our first profit target located within the price range of 0.00814 – 0.00935, our second profit target is located within the price range of 0.01124 – 0.01212, for this to happen we need a weekly closing candle above 0.00610, therefore, I recommend to be very attentive to the price action in 1D to choose the best position and always remember to place your stop loss to avoid possible invalidations during the movement.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

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