With bullish TA and announcements, Harmony is poised to lead the interoperability race and become ONE with all chains! Covered Harmony TA looking Bullish Cosmos/Harmony Bridge Announced Harmony TA looking Bullish Harmony is up nearly 12% at press time, printing green candles on a day when crypto as a whole has had a nice bump. […] The post TA and Fundamentals Show Harmony Ready To Breakout appeared first on CryptosRus.

TA and Fundamentals Show Harmony Ready To Breakout

With bullish TA and announcements, Harmony is poised to lead the interoperability race and become ONE with all chains!

Covered

  • Harmony TA looking Bullish
  • Cosmos/Harmony Bridge Announced

Harmony TA looking Bullish

Harmony is up nearly 12% at press time, printing green candles on a day when crypto as a whole has had a nice bump. However, don’t feel like you missed the boat. Harmony is looking great TA and fundamentals-wise. As seen below, it has been on a very nice uptrend, printing higher lows since bottoming out at around $0.16 in December.

If Harmony can break above $0.33 cents, which has been resistance going back to October, it would be clear skies above, as it has already bounced off the ascending trendline and bounced off the support line (orange). As you can see in the below chart from Jan 10th, Harmony needed to break out of that descending wedge, and it has.

https://twitter.com/360_trader/status/1481345664206479362

As of press time, it is sitting right at that resistance at $0.33 and would need a daily close above that price to solidify a move up. It has critically broken above the exponential moving average of $0.29 and simple moving average of $0.30, which signaled the bulls are in control.

Recommended: Three Top DeFi Projects On Harmony You Need To Check Out

If Harmony does break out above $0.33 and close the daily candle above, the move to 0.38 could be quite quick. Harmony will need strong volume to keep the buying pressure up to close a strong candle.

https://twitter.com/taksidiotiss/status/1481289563846885377/photo/1

Cosmos/Harmony Bridge Announced

The other contributing factor to Harmony’s pump is their announcement today that they have approved a grant to build a bridge between Harmony and Cosmos. This will be accomplished through Data Chain, which is a core contributor to Hyperledger. They enable interoperability for Cosmos IBC. (IBC is the communication protocol developed by Cosmos and Interchain Foundation, which enables various chains to be interconnected.)

This bridge to Cosmos will open up the whole “IBC-enabled ecosystem to all ONE users.” According to the announcement, “Asset transfer between Harmony, Cosmos, Terra and other IBC networks in a trustless manner can be done at ease now.” This could allow for more explosion in growth for the three chains involved.

One of the main goals of the bridge is to “add a cross-chain atomic swap feature, and connect Harmony to other chains such as Hyperledger Fabric.” According to the announcement, Binance Chain and Polygon are next in line to be bridged to IBC via Data Chain.

Another announcement, too, could be contributing to the bounce, and that is Harmony announcing the partnership with Celer Network. Celer’s cBridge recently surpassed $2b in cross-chain transaction volume. “Using the cBridge, Harmony ONE users can transact with other chains like Ethereum, BSC, Polygon & more.” Celer will be also be announcing liquidity mining for USDC and WETH pairs.

All things considered, Harmony is poised for a near-term breakout based on bullish TA and fundamentals. With cutting-edge sharding technology and EVM, and now IBC compatibility, Harmony is looking to be ONE with all chains.

Recommended: Here Are The Details On The Upcoming Harmony Ethereum Bridge

The post TA and Fundamentals Show Harmony Ready To Breakout appeared first on CryptosRus.