Harmony Is Struggling to Continue Up
Harmony (ONE) has surged by 18.8% this week, trading at $0.0274, significantly outperforming the broader cryptocurrency market, where Bitcoin (BTC) is up 8.8% to $102,330. The altcoin reversed its recent downtrend after falling below the key support level at $0.0250, briefly hitting $0.0210 on Monday. Speculation about a gradual implementation of new U.S. tariff policies and a drop in inflation provided a much-needed boost to market sentiment, driving Harmony’s recovery.
Despite this rally, Harmony faces significant headwinds from negative fundamentals. Binance recently delisted Harmony from its Flexible Rate Loan programme, preventing investors from creating new loan orders and limiting them to closing existing ones. This development has raised concerns among investors and could weigh on Harmony’s outlook.
Should the broader cryptocurrency market enter a correction phase, Harmony’s recent gains could be at risk, with the altcoin potentially resuming its steep decline towards $0.0150.
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