On February tenth, the Concord (ONE) value turned down from the $0.223 resistance and misplaced 25% by hitting its $0.166 month-to-month assist. The bulls had excessive hopes from the assist, however the international markets going through geopolitical points, i.e., Russia invading Ukraine, triggered additional downfall and plunged the altcoin to $0.12 assist. Nonetheless, The coin chart reveals a reversal alternative at this assist.
Key technical factors:
- ONE value reclaims a minor resistance degree of $0.143
- The technical chart reveals a demise crossover of the 50-and-200-day EMA
- The 24-hour buying and selling quantity within the Concord coin is $238.1 Million, indicating a 20.3% acquire.
The ONE value breached the $0.165 essential assist on Feb twentieth, intensifying the continuing sell-off. The sellers pulled the altcoin to the September 2020 assist($0.12), leading to an extra 27% fall. On Feb twenty fourth, the sellers tried to increase these losses, however the bulls defended this degree with vigor, leading to a long-tail rejection candle.
The Relative Power Index(40) surged from the oversold territory and has breached the 14-SMA line. The rising slope signifies the rising underline bullishness.
Can EMA Dying Crossover revert the continuing ONE value rally?
The Concord (ONE) value bounced again from the $0.12 assist forming a daily-morning star candle sample. In the present day, the consumers observe up on the restoration, displaying the coin has gained 28% from the underside assist. Moreover, the consumers gave a bullish breakout from a falling increasing channel.
The bullish rally might quickly retest overhead shared resistance of $0.17-$0.165 and 20-day EMA. A profitable breakout from this degree would supply a restoration alternative for ONE holders.
On a opposite observe, if sellers rejected the coin value from $0.165, it might point out the assist has flipped to resistance threatening an extra downfall.
ONE value chart reveals a bearish alignment among the many essential EMAs(20, 50, 100, and 200). Furthermore, the 50-and-200-day EMA reveals a demise crossover, luring extra sellers into the market.
- Resistance- $0.17-$0.165, and $0.198
- Help- $0.143, and $0.12
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