After the total market meltdown in March, when Harmony (ONE) had been forced brutally to the all-time low at $0.00126, the 186th altcoin had gone on an absolutely splendid bull rally that saw only three brief retracements. Over that period of time, the coin that fuels the sharding and staking blockchain platform got juiced up by 92%, probably causing a lot of traders to buy into FOMO, which then cost them dearly as a jolly bull run was decisively rejected at $0.013, the level that corresponds with the macro resistance and also coincides with the 38.2% Fibonacci retracement line. The rejection has triggered a violent 70% correction with the equally brief periods of retracement that now threatens to completely annihilate all gains from the past six months.
The danger of rolling back to the all-time low
1-week ONE/USDT chart