Harmony (ONE/USD) is one of the few currencies to hit a new high in January, however, it is down more than 50% from the new all-time high it hit in January. This is mainly due to the deep sell-off seen in the broader market and Harmony was a coin that dropped significantly more than other coins in the past week. Tokens are used to pay various fees, including transaction fees, storage fees, and gas fees. With the help of ONE tokens, holders receive voting rights as part of the platform's governance system.

Harmony is trading back to the level where Harmony surged earlier this month, so it could be a great opportunity for investors who missed the previous rally to buy Harmony, however, investors should be patient and wait for an clear reversal as Harmony can still break the support level and drop lower. Harmony is one of the top De-Fi projects right now and is seeing a huge increase in the number of users and has also launched a $300 million developer incentive. Harmony was also one of the best performing coins in 2021 and investors are expecting another strong year due to strong finances. So, should you buy Harmony before it goes up again?

  • Harmony is down over 50% after hitting a new all-time high earlier this month and is now trading back its support at $0.162, so a reversal could be seen soon.

  • However, investors should only enter when Harmony is able to break the 200-day moving average.

  • Harmony is very close to the oversold zone, so buyers may return soon.

  • Investors can expect a target of $0.26 followed by $0.33.

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