Keep Your Eyes on this ONE
ONE Break and Close above local 786
ONE has continued its course. We recently wrote about one back on January 3rd. At that time ONE was just crossing over its Swing-Fail Resistance. This resistance comes in the form of a downward sloping trendline anchored back to its recent ATH. You can read that article HERE. The initial target level from that article was the local 786 level which sat around $0.333. That level was hit a few times in the last week on a few wicks but what is more important is what happened yesterday when ONE pushed for 14% and closed above the $0.333 level. That is where we will pick up today.
Trifecta Bullish
ONE has three different signs that point towards further upside.
- Breakout and retest from Swing-Fail Trendline Resistance
- Breakout and retest of double confluent Horizontal Resistance. (Price Action and Local 786 Fib)
- Breakout and retest of upward sloping Channel
These things are not to be taken lightly as they are each powerful in their on right. The larger push to $0.46 and $0.50 can now be increased slightly.
ONE Price Discovery
When an asset has added momentum then the potential to reach higher targets increase. ONE also has a few added benefits in the form of indicators. MACD crossed Bullish yesterday and RSI is creeping just under the 70 level. These are both on the Daily resolution. Volume has been slowly on the rise over the last week.
Target one, in these situations, is always a retest of the high. These situations can make or break a rally. Double Tops happen often enough to make all traders respect those levels. $0.38 even is the recent ATH and a level that should be given respect.
After that – things get a little more loose. The reason is, there is no overhead resistance and essentially – “Sky’s The Limit”. We have two levels in mind that we feel traders will be eying up for take profits.
First – $0.53 – This is slightly increased from our Jan 3rd Targets as we have multiple signs of Bullish behavior. If ONE is able to reach these levels and does so with enough momentum to keep going, then we have a second level we like as well.
The second level sits between $0.77 and $0.79. This 2 cent cushion allows for some volatility and flexibility while trading in untraded territory.
—Keep your EYES on this ONE—
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