Last chance to buy harmony, one, let’s get into it. So today, guys we are going to be taking a cheeky look at harmony, one and specifically how low this price has become that it is a very attractive proposition as we get into this video guys.
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Chris is there anything else that you would like to add before we jump on down to the desktop and start reviewing exactly what’s been going on today, and why harmony one, looking like a very good, but right now, yeah just, let us know what you think about the price at the Moment really interested to get your views and opinions. Do you think it’s an absolute still like we do? Let us know fantastic right let’s uh jump on down and get right on into these charts.
Let’S do it right guys to start with we’re going to just have a brief discussion. Here around bitcoin’s dominance, and so I know a lot of people are scared and there’s a lot. A lot of like you know cryptocurrencies that are falling down in value today, and this is uh, something that you know it has many different reasons that are underlining behind it right.
You have you know things going on with Elon musk you have things going on with vital, for example, and all of. These kinds of things are actually causing a bit of mass panic in space. But what we have here in front of us is bitcoin dominance.
The bitcoin dominance is currently at 41.9and. That’S actually a pretty good position to be in because bitcoin dominance has fallen and that’s a good sign. We actually see it recovering a little bit from where it was yesterday and. Ultimately, this line just over here at 37 is an interesting line.
This is where we actually came down to during 2027, uh or 2017 before we went back up again before we had that complete and now to crash right, so we had initially come down okay and that’s kind of where we are in our cycle at the moment right, we’re coming down.
And then, ultimately, we’re looking for another spike up which we’re starting to see that reversal okay that’ll go up and then we’ll have that last kind of drop. That’s what happened in the previous cycle now what we can see over here is um!
You know it’s coming down and going back up again whether it goes as high as it did previously bringing that kind of up to about 67 or so is yet to be seen whether or not this particular run is that, and we are still on our way down to see the next Kind of leg – the thing that here – that’s really interesting – is we got down to 37 percent of that dominance right, so it was 37 percent dominance when we had that bottom right before we had that leg up before coming right back down again this thing actually bottomed.
We actually saw that you know true high level around 30. I think 30 32 just here right, so we can see that if I just move this chart up a little bit and see this thing when it actually peaked down here. It was at the lowest 32 and we were currently at 41.9, so we have quite a bit of room still to a godown in the bitcoin dominance to truly have that old season that we’ve been talking about. So when it comes to looking at the uh bitcoin dominance here.
We know that actually, we’re in a pretty good spot, there’s still loads of room to actually fall down here in bitcoin dominance to drop significantly, which would mean that the old coins really go on their parabolic run. So right now we know that actually, this is a bit of a natural kind.
Local top or you know, a temporary kind of top that was found and there’s a healthy correction that’s coming in, but it is obviously being mainly driven from external factors such as Elon musk and, going on several kinds of rampages and obviously. You also see the same thing: with Vitali just dumping all those meme coins and obviously. All of that kind of combined, which is obviously happening this week.
It kind of allows for this catalyst for massive fear in the space but with that fear does come to some juicy opportunities. This here guy is the entire season uh or altcoin market cap excluding bitcoin right. So this is all crypto excluding bitcoin, so your entire altcoins and if we just zoom in, we can see that actually we’re hovering around that kind of um second price target here we’re. Finding good support. We’Ve got the wicks proceeding below it, but we haven’t actually closed um a daily candle below that price level, okay and that one comes in here at 1.
96trillion dollars. So right now we’re actually in a pretty good spot. We obviously know that the higher levels that we’re looking to achieve but we haven’t dropped our um altcoin dominance massively right or our old coin market cap hasn’t dropped off or dropped off massively right, we’ve had a drop from a high local top.
If you will, which can be found just at the top of this particular wick here we, have that local top and then we obviously have the price of all the Alts kind of fluctuating in and around here now we have that dropping down to, a maximum level of 25 right. So we lost 25 in that movie, but that’s very healthy.
That’S nothing that should be really concerning or shouldn’t we worrying us in this space. It is a very volatile one because it’s got a low amount of money in this space, so it moves quite rapidly and but ultimately that isn’t a scary move in any sense. The word right and we still know that we have huge potential to continue moving to the upside and right.
Now, when we have um, you can see this whats going on here. We also have that 50 moving average being a good area of support on this altcoin journey, and we only know we are looking to move much higher here uh, we haven’t even got to the third extension level here of the 3.18 that comes in at 1.64 trillion dollars, so we’ve still got quite a significant move, just to go up to that price target which, if I just throw that on there shows an additional 35 from the current move right and.
So if current altcoins, another 35 gets us to just uh this level here and then, when we throw that a little bit higher, we can see that’s another58 just to get to the top extension level, um for, the old coins and obviously not all altcoins will peak. At the same time, either they will be staged out in several different ways and so you’ll see that uh, you know there’ll be money flowing out of some projects into different ones, so you actually stay around hovering around the top for a little bit of time and for a couple of weeks or.
So before you know you finally actually get that kind of crashing happening, and so we’re saying guys is we’re not quite there yet and that’s a positive sign, because if I just bring up harmony 1 to the USDT, we see some pretty fantastic opportunities that you didn’t normally see in this space.
You know very often and that’s just how low – this value has actually come. So the point of recording this video is Chris Harmony, one, is at 10.2according to Binance, and this here is harmony. One to the USDT daily chart Binance as the data source, as usual, the Fibonacci retracement you can see here runs from our low level of the 11th of march through to the high. That was the 29th of march right.
That was an 18-day run that saw that 496percent in games we’ve seen the healthy correction we had the valley back up finding the resistance and, all that kind of good stuff and then we have this correction again coming down today but.
What we are looking for here is this support line right here. This is why this uh particular cryptocurrency is of particular interest, today it’s, very attractive proposition because it’s going to be finding support on the 100 daily moving average, in the way that you saw that before just over here and then also when you art looking at those lower time.
You Know the position of harmony, one according to, the relative strength index, the low volumes and how, it’s kind of correcting it’s indicating that this thing is uh, really really low and there’s only one place to go from there and that is to the upside. So the proposition here for harmony is incredibly attractive. So if I just pull this down and, we take a quick look at the hourly chart.
Here what you can see is you can see how we are right down in the bottom end, here, we’ve actually been hovering around here um for quite some time, during the course of today. Right, you can see. How we’Ve got this kind of major support line forming just over here um just down at that low level at 10 cent right and we can see that we hover down towards that um, oversold situation and we shoot straight back up. We do find a little bit of resistance. Obviously, on that journey and but once that sentiment changes, this thing is literally primed and ready to go.
We have volume, that’s a really, interesting kind of volume, it spikes up occasionally and does you know, decrease again as? It has that kind of decrease in um in price as well, and so ultimately, right now the relative strength index is 39, and so it’s in a very good position to really move to the upside with huge amounts of space here to take advantage of um so when.
You look at the hourly chart everything looks like, a pretty good position in terms of relative strength index volumes are looking pretty. Good, we are below average pricing, as in the 50 100 200moving averages are above the current pricing for harmony one. So all that’s looking pretty good and, then if you go ahead and have a look at that daily chart and you can see how you’re fast approaching that 100 Davie moving average and you start to see that actually the whole picture here is indicating to me, at least in my opinion, Chris that.
We are finding a very good, strong support zone at 10 cents. That looks to be a good bottom area here at the moment for harmony, one and it makes. This thing looks like an incredibly attractive purchasing opportunity because ultimately, this thing is ready to really move to the upside with huge amounts of potential.
If that sentiment, in the market changes, which I think it will do in due course Chris there’s only so much fear that people can you know, sell right and ultimately people will start seeing exactly what we’re seeing here in this chart and in many different altcoin charts as well, and ultimately, we say: Yeah this is a this is actually a fantastic opportunity. That wants to take advantage of, and so when their blood being spilt in the streets and all that fear is up for sale.
This is a time to really take stock of the situation. Understand. What’S going on and use the data is your friend in these kinds of scenarios, whereas emotions are your enemy? And people are acting emotionally in this space at the moment they are selling their crypto assets at a healthy discount, and when it comes to harmony one, this thing is looking at primed and ready to go. It looks to me that 10 cents look to appear to be the bottom area for harmony, one and we’re going to be getting good support here on that 100moving average.
The relative strength index is low on the daily chart at 38. It’S 39 on the hourly chart volumes are looking pretty attractive on the daily, as well as the hourly and again on the audit chart. It’S also indicating that we’re below-average pricing on the 5100 200 moving average on, the hourly so everything’s looking incredibly attractive for purchasing opportunities when it comes to harmony.
One but Chris anything else you feel that I’ve maybe missed off that you think is also worth bringing up at this point, not that you know you’ve necessarily missed off, but you know how I’ve been sort of banging on about marketing and that side of things and uh. I have seen an awful lot going on for harmony some of which is community-led and others um more led by it by the team we’re seeing lots of things circulating about harmony’s ecosystem, which I love to see.
I think that’s brilliant and you know. Hopefully, more and more people will share that and people will see that. Actually, harmony is probably ahead of the curve compared to some other blockchains in the space doing the same sort of thing. So for me, I’d love to see all of that, but I’m seeing amas from senior engineers in the team this month, which I hadn’t really seen uh previous, so that’s great and. Obviously the um.
You know Stephen as well doing AMAS, so you know, I think, there’s an improvement in the market and I still think there’s a long way to go, but I think you know its remarkable just that that little bit of additional information that I see circulating now, um you know.
I think there’s going to be benefits to come off the back of that um. Certainly, so that that’s one thing that I kind of wants to sort of call out. As you know something I’ve noticed. And you know I’ve been impressed with and I think you know there are lots of people talking about wallets dump in uh when it gets.
You know to a certain price. I think this is just part and parcel of this space right. Like you see it, not just in harmony, you see it in various other projects as. Well, I don’t think you’re ever going to get away from that, but are they able to literally you know become that that blockade to stop the price discovery? Um?
The answer to that in my humble opinion is no um. There isn’t one wallet out. There that is able to just literally crash harmony, one back down to where we see it today. I don’t think that’s the case at all. Otherwise, we wouldn’t have got um as high as we did, you know the previous time.
You know we’ve got to the all-time high. You know for me like it’s a little bit of fun, but you know I will look into it in a lot more detail. It’S just been super busy, our end, but that’s not a concern for me. I think the marketing was you know, was the one thing for me that. I wanted to just see some improvements, I’m seeing that now I knew they were working on it.