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Harmony's 13% rebound, supported by rising CVD and open interest, signals renewed buying activity, although sustained momentum needs confirmation
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A breakout above $0.002383 could push ONE towards $0.002922 and $0.004200, while losing $0.001715 risks further downside.
Harmony is showing signs of a recovery after weeks of selling pressure pushed the token significantly lower from its September highs. The cryptocurrency has gained 13.14% in the latest 24-hour session, climbing to $0.002041 as trading activity picked up sharply. However, the latest rebound comes after ONE price surrendered a substantial portion of its earlier gains, leaving its broader recovery uncertain.
The change in momentum is also visible in derivatives activity, with Cumulative Volume Delta (CVD) turning sharply positive and open interest recovering. These developments suggest renewed market participation as buyers attempt to regain control. With ONE approaching a crucial resistance zone, the focus now shifts to whether the latest rally can extend towards $0.003 or face another rejection.
Buyers Regain Momentum as CVD Signals Renewed Buying Pressure
Harmony’s daily chart shows an attempt to reverse its recent corrective trend, with ONE rebounding sharply from the $0.001 region to $0.002041. The latest 13.14% advance has pushed the token above the 0.236 Fibonacci retracement level at $0.001715, indicating improving buying momentum.
However, the recovery still faces several resistance barriers. The immediate hurdle stands at $0.002383, corresponding to the 0.382 Fibonacci retracement level. A sustained move above this level could strengthen the recovery and bring the 0.5 Fibonacci level at $0.002922 into focus.
The Cumulative Volume Delta (CVD) indicator further supports the improving price action. The latest chart shows a sharp positive spike in CVD, suggesting an increase in aggressive buying activity. This indicates that buyers are becoming more active as ONE attempts to recover from its recent lows.
On the upside, a breakout above $0.002922 could expose the next major supply zone between $0.0042 and $0.0052. This region previously witnessed significant selling pressure during the September rally. For now, $0.002383 remains the immediate resistance to watch, while holding above $0.001715 is important to sustain the current recovery.
Open interest rises as traders return to the derivatives market
Harmony’s latest price recovery is accompanied by a notable increase in open interest, suggesting renewed participation in the derivatives market. The indicator has climbed towards $20 million, compared with approximately $10 million earlier in November.
The simultaneous rise in ONE’s price and open interest indicates that new positions are entering the market as the token gains momentum. This suggests the latest advance is attracting fresh trading activity rather than being driven entirely by the closure of existing positions.
However, rising open interest alone does not confirm bullish positioning, as it includes both long and short contracts. Whether buyers can maintain control will depend on how price and derivative activity evolve around the immediate $0.002383 resistance.
If open interest continues to increase alongside positive price action, it could support further recovery. Conversely, a sharp decline in open interest could signal fading participation and weaken the current bullish momentum.
Harmony price prediction: Can ONE extend its rally towards $0.003?
Harmony’s short-term outlook depends on whether buyers can sustain the latest recovery and overcome the immediate resistance at $0.002383.
Bullish scenario: A sustained move above $0.002383 could strengthen the recovery and bring the next Fibonacci resistance at $0.002922 into focus. If buying pressure continues and ONE clears this level, the rally could extend towards the $0.004200 supply zone.
The following upside targets are worth monitoring:
- TP1: $0.002383
- TP2: $0.002922
- TP3: $0.004200
- TP4: $0.005208
Bearish scenario: If Harmony’s price fails to overcome $0.002383, profit-taking could trigger another pullback. The immediate support remains at $0.001715, and a daily close below this level could expose the 0.0010–0.0011 region.
A deeper correction could bring $0.000636 into focus if selling pressure intensifies.
- Immediate support: $0.001715
- Next support: 0.0010–0.0011
- Major downside level: $0.000636
- Stop-loss reference: $0.001650
For now, ONE price needs to defend $0.001715 and break above $0.002383 to maintain its improving technical structure.
