Harmony (ONE) is on the verge of a significant breakout after nearly two months of price compression. Analysts and traders are closely monitoring chart movements that suggest potential price strengthening.
Technical Setup Points Toward Breakout
Analyst Jonathan Carter noted that Harmony's chart has formed a falling wedge, which has developed over eight weeks with diminishing sell volume accompanying each swing low. Such compression patterns often precede a sharp directional move. The wedge is currently testing its upper boundary, with the 100-day moving average nearby. The relative strength index has rebounded from oversold levels, indicating strengthening momentum. This combination of technical factors is creating a rally-ready framework for the token.
Carter also highlighted potential price targets in case of a clean breakout. The first level stands at $0.013, followed by $0.016, $0.021, and $0.024. Each target corresponds to a key liquidity or resistance zone that Harmony must overcome to extend gains.
Market Activity and Volume Trends Support Accumulation
Traders are also pointing to changes in market activity as Harmony consolidates. The current price is $0.01085, with a 24-hour trading volume of $8.38 million. The token has gained 2.96% in the last day and 5.58% over the past week. This gradual rise has coincided with reduced selling pressure and volume tapering. Such conditions are often observed before breakout attempts, as market participants shift from distribution phases towards renewed accumulation.
According to Carter, the chart structure suggests that sellers are losing control, allowing buyers to prepare for upward continuation. The wedge nearing completion signals that a decisive move could occur once resistance levels give way.
On-Chain Metrics Point Toward Supply Tightening
Additional insights shared by TC Xprt (@btcxprt) emphasize the on-chain factors surrounding Harmony. In the last four weeks, 220 million ONE tokens have been added in accumulation. This is part of a broader push toward a reverse buyback target of 7 billion ONE.
Staking inflows have also reached record levels, further reducing circulating supply. As more tokens are locked, available liquidity on exchanges declines, contributing to a potential supply shock.
Institutional and venture capital interest is reportedly rising as entities build exposure to the asset. Combined with chart compression and volume reduction, these conditions suggest Harmony may be positioning for a breakout sequence in the near term.
In conclusion, Harmony (ONE) is at a crucial stage where technical analysis, market trends, and on-chain metrics indicate potential for a breakout. Market participants are watching closely for the token’s next moves.
