ONEUSDT Buy | S6T2 - Team Trading Post for Team Frontline
Hello Everyone,
lets get started...
One is the native token of Harmony. Harmony is a type of blockchain platform which is created to enhance the creation of decentralized Apps. It improves scalability and has a good and fast transaction fees and block generation respectfully. The Harmony blockchain is a Layer 2 platform built on the Ethereum blockchain network which has thousands times lower fees the Ethereum.
Harmony is more focusing on working with Ethereum rather than competing with them. Unlike the other altcoins which try to compete with the blockchain to over throw it as the most popular network in developing applications. Harmony is projecting to introduce cross-shard contracts and cross-chain infrastructure.
Harmony was founded by Stephen Tse and he is still the CEO of it. He studied at the University of Pennsylvania where he specialized in cryptographic protocols and type theory with a Ph.D. After school he became a research interim at Microsoft and later became a senior engineer at Google. After some years in 2011, he founded Spotsetter, a search engine to which Apple later bought. As of 2014, he became the principal engineer for apple. In 2017 is when he founded harmony and employed 12 people more of them being his work colleagues at his previous roles.
The one thing unique about Harmony apart from the fact that it has processing speed, It also protects its nodes and secure the validation process.
The current price of Harmony is at $0.1607 with a trading volume of $233,997,944 USD in the last 24 hours. This makes harmony down to 1.57% in the last 24 hours. It has a market cap of $1,874,062,192 USD and circulating supply of 11,809,919,160 ONE. With its performance rate it has been on #51 on the list of coin market tokens.
The coin can be traded on Binance App, KuCoin, Poloniex, Houbi and so many other exchanges.
I used a pair of ONEUSDT on a 30 mins candle stick chart. I marked my support and resistance out. In this trade I initially thought of using 3 indicators which are RSI, MACD and the Ichimoku cloud but i ended up adding the Exponential moving average to it. This is because the first three indicators gave me the same signals but the price was moving as such. With the use of the moving average I understood why. Keep reading prof to understand too.
From the chart below, we see that the RSI Indicator just cross above the 50 mark which is a good sign to get into the market. In indicates a bullish trend, now lets get to the next indicator which is the Ichimoku cloud.
The ichimoku cloud indicate there is a high buying pressure in the market and this means the price will get into bullish and break through the cloud as it serves as the resistance also.
Now with the MACD indicator, we can see the MACD signal line crossed above the signal line which indicates a bullish trend. All three indicators gave me a signal to get into the market but after getting into the market the price seem not to get into that direction for about one hour later. I later decided to use the exponential moving average as well.
The exponential moving average gave me a different signal which indicates that the 20 period is yet to cross above the 50 period. Reading all the signals, it means the bullish trend will still come on but it has to take a while for that to happen.
I made an entry to the market with a 20 USDT worth of ONE at a price of $0.16.
I was very optimistic about the price getting to $0.166 at the resistance level due to the signals my 4 Indicators gave me. I think I had it all wrong because it seem I should have indicated all the resistance level within the range of the price.
I plan to hold it long and still monitor the price changes, till then i will decide on my decisions base on how i read the charts with the indicators. I am projecting to keep it probably about a month.
Its a good project with good features that will interest traders all around the world and this will benefits the grown of the token and its blockchain. So i would recommend it for a long term and also short term too to get from the price movement. Before that you need to do your research well and decide for yourself on what will suit you as a trader.
Thats it for today's trade, see you tomorrow for my next...