Harmony (ONE) has dropped 3.3% to $0.0182, hovering just above its recent low of $0.01730 reached early Tuesday, marking its lowest point since May 1. Throughout June, Harmony has declined by 17.0%, underperforming the broader market where Bitcoin (BTC) has only fallen by 0.7% to $67,000.

The sharp decline in Harmony's price has pushed it below the support level of the uptrend established on October 19, 2023. The token has closed several consecutive days below this support level, signaling that investors are largely ignoring the positive news generated by the project. This suggests a firm establishment of a downside trend.

The next critical downside target for Harmony is at $0.01500. Reaching this level could be significant for the token's price action moving forward.