The macroeconomic outlook and rising geopolitical pressure have pushed Harmony (ONE) significantly lower since January. Although there have been brief periods when the token attempted rallies, each advance has ultimately retraced. Could that change soon? Key points upfront:
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Harmony (ONE) has formed a solid demand zone between $0.106 and $0.121.
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At the time of writing, the coin traded slightly above that zone at around $0.125.
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If ONE re-enters this demand area, increased buying pressure from bulls is likely.
Data source: TradingView
Harmony (ONE) – Is a bullish run feasible?
As noted, Harmony (ONE) spent much of 2022 in a downtrend. A lasting reversal appears unlikely in the near term given the broader market sentiment, which remains cautious as investors factor in mounting macroeconomic and geopolitical risks.
That said, short-term bullish runs remain possible for Harmony. The coin is approaching a key demand zone between $0.106 and $0.121, and a bounce from that area could trigger an upward move that pushes ONE toward roughly $0.164 in the short term.
That would correspond to an approximate 30% gain from the current quoted price of about $0.125. However, sustaining levels above $0.164 would be unlikely without broader market improvement; ONE may well pull back after testing that level as it searches for renewed demand.
Why might Harmony (ONE) be undervalued?
For many investors, the goal is to identify undervalued crypto assets, and Harmony (ONE) can fit that profile. The token has slumped considerably from its all-time highs and posted losses for much of 2022.
Nevertheless, the project retains meaningful potential and solid fundamentals. Despite recent turbulence, the longer-term outlook for Harmony in 2022 still shows promising elements, making it an attractive asset to consider for investors looking to capitalize on potential value opportunities.