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Harmony (ONE) nears a crucial demand zone – is a bull run finally here?

The macroeconomic picture and increased geopolitical pressure have seen Harmony (ONE) drop quite significantly since January. Although there have been periods where the token has threatened to rise, it has always come crashing back down. But is this about to change? Here are some highlights first:

  • Harmony (ONE) has established a strong demand zone between $0.106 and $0.121.

  • At press time, the coin was slightly trading above that at $0.125.

  • If ONE enters that zone, we could see some increased buying from bulls.

Data Source: Tradingview 

Harmony (ONE) – Is a bull run feasible?

As noted above, for most parts of 2022, Harmony (ONE) has largely been on a downtrend. It is highly unlikely that this bearish trend will reverse in the near term. As it is, sentiment in the crypto market remains largely fearful as investors weigh in increased macroeconomic and geopolitical pressures. 

But short-term bull runs are still possible for Harmony (ONE). The coin is currently headed to an important demand zone of between $0.106 and $0.121. This is likely going to trigger a bullish run that could push ONE towards $0.164 in the near term. 

This will represent a 30% gain from the current price, which at press time was $0.125. But sustained gains above $0.164 will be highly unlikely. ONE is likely to pull back once it tests that price and try to find more demand once again.

Why is Harmony (ONE) undervalued?

The key for any investor is to find a crypto asset that is undervalued, and Harmony (ONE) is one of them. The coin has fallen sharply from all-time highs and has been reporting losses for most parts of 2022. 

But the project still has a lot of potentials, and the underlying fundamentals are very good. In fact, the general outlook for Harmony in 2022 is still very positive despite recent turmoil. It is a great asset to grab right now.

The post Harmony (ONE) nears a crucial demand zone – is a bull run finally here? appeared first on Coin Journal.

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Downside pressure could push Ethereum (ETH) towards $1800

It’s unimaginable to think right now that Ethereum (ETH) could fall below $2000. It will mean that the coin will be right in the middle of a bear market. But it is actually possible thanks to several downside risks. We will highlight them in detail below but first, here are several highlights:

  • The biggest risk comes with the possible launch of Ethereum 2.0.

  • As Ethereum 2.0 merge with the Beacon chain, it will trigger severe selling across multiple exchanges.

  • This could push ETH towards $1800 in the near term.

Data Source: Tradingview

Ethereum (ETH) – Why is the Merge risky?

Ethereum has been talking about a move towards a proof of stake consensus for a while now. This is expected to make transactions faster and cheaper on the chain. But merging the proof of stake with the current Ethereum Mainnet will have its risks. 

In fact, experts warn that it will trigger major selling across all exchanges, something that could sink ETH towards $1800. Besides, Ethereum has shown very little upward momentum in recent days. The coin is now trading at around $2500 and has struggled to clear the $3000 mark. 

We are still not sure when the migration towards Ethereum 2.0 will happen. But recent reports indicate that final testing is already underway. The good news is that the possible drop will rebound faster than other dips.

Why Ethereum 2.0 is a good thing?

Although the merge towards Ethereum 2.0 is a high-impact event that will increase volatility for ETH, it is actually a very good thing. After all, the biggest challenge for Ethereum has always been the slow speed of its network and the high gas fees. 

A move towards Ethereum 2.0 will fix this. It would mean now that more apps and projects will come on Ethereum. This will have a huge impact on the chain and its future growth.

The post Downside pressure could push Ethereum (ETH) towards $1800 appeared first on Coin Journal.