1. Recent upgrades 2. Strong technicals 3. Big developments in the pipeline
Harmony one retreated from highs in the high $0.30's over the thanksgiving weekend. It has been holding strong in the mid $0.20's despite the crypto FUD that brought ETH down briefly below 4K. We are near the bottom of a value area, the floor of which is relative lows at $0.23 or so. This lower bound is likely a floor, which gives us plenty of upside potential back to highs, or even the middle of the value area. If we retrace to the 50% Fibonacci level, that would bring us back to $0.288 or so, for nearly a 10% return if you bought at current levels which are around $0.262 at the time of this writing. Longer term, we appear to be in a sideways correction bounded between $0.23 and $0.33, a rather wide range. The Kovach OBV has dipped with the selloff, but has started to level off, indicating we are finding support and are likely to get a bounce soon.
The Harmony ONE team has boasted about recent developments to the blockchain. Also, there is a general interest in alternative blockchains to ETH as we wrote about last week with Avalanche and Solana. The chain also has a lot of interesting projects like NFT's via davinci.gallery and harmonywhales.com. Finally, the Harmony Launcher raised 1.7M in an attempt to be the world's first IDO + IGO launcher.
Harmony landed on my radar at inception and back then I grabbed it at .025 cents. It's one of my few HODL coins because it's also mineable. It's a great performing coin that returns profit in more than one way due mining. It's producing daily and compounding so the earning potential will only increase over the long term. It's an excellent source of passive income with the capacity to retire me completely should the chain take off. I only wish I had bought a ton more at .002 cents back in March 2020.