Harmony Price Forecast: ONE's unstoppable bull market is not over yet

Harmony’s price neared its all-time high on Friday as interest in Ethereum competitors surged. The ONE token jumped to $0.2068, its highest level since March of this year. The rally pushed its total market cap to over $1.9 billion. This makes ONE the 67th largest cryptocurrency in the world.

Harmony ONE at a Glance

Harmony is a third-generation blockchain project. It aims to overcome the challenges faced by Ethereum and Bitcoin. To this end, it runs on a fully scalable, provably secure, and energy-efficient platform. It uses sharding and the proof-of-stake concept.

Sharding is a blockchain technology used by Zilliqa, the 81st largest cryptocurrency in the world today. In this technology, data is split into two or more parts. This allows for more transactions to be processed per second.

The only difference between Zilliqa’s sharding and Harmony is that the former has a proof-of-work system. Harmony, on the other hand, uses proof-of-stake technology. In this process, thousands of validators are assembled.

Another technology used is distributed random generation. It is unpredictable, unbiased, verifiable, and scalable. As a result, ONE outperforms Ethereum and some other tokens in several metrics.

For example, transaction finality is 2 seconds. For ETH, it’s about 6 minutes. Harmony also has fewer validators than Ethereum. As a result, transaction fees are significantly lower.

These features have made Harmony a leading platform for decentralized applications (DAPPs) and other functions. This week, the Harmony Foundation announced that it is scaling the ecosystem by committing millions of dollars. The company plans to support 10,000 startups with about $180 million. $50 million of that will go to Decentralized Autonomous Organizations (DAOs).

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Harmony Price Forecast

Harmony Preisprognose 10.09.21Harmony Preisprognose 10.09.21

The daily chart shows that ONE price is in a strong uptrend. The coin is up nearly 300% from its low in July. At its peak today, ONE was only 1% below its all-time high. Coin is well above the 25-day and 50-day EMA, while the Relative Strength Index (RSI) is showing an upward streaknd exhibits.

Notably, Harmony has formed a cup and handle pattern, which is usually a sign of a bullish continuation. Therefore, the coin is likely to maintain an uptrend as the bulls target the all-time high of $0.2245. A break above this level will send the price to the next psychological level of $0.2500.