Market Overview for Harmony/Tether (ONEUSDT) on 2026-01-02

Summary
• Price surged past 0.00390 before consolidating near 0.00393–0.00395.
• Volume spiked in overnight trading, confirming bullish momentum.
• RSI reached overbought territory near 74 but failed to break above 0.00400.
• Bollinger Bands widened midday, signaling rising volatility.
• A bullish engulfing pattern formed near 0.00390, hinting at potential breakout.

Harmony/Tether (ONEUSDT) opened at 0.00368 on 2026-01-01 at 12:00 ET, surged to 0.00412, and closed at 0.00398 as of 12:00 ET on 2026-01-02. The pair traded between 0.00367 and 0.00412 over 24 hours, with a total volume of 349,556,459.5 ONE and a notional turnover of $1,384,871.

Structure & Formations

The price formed a bullish engulfing pattern near 0.00390 after breaking out of a consolidation range. A key support level appears to be forming at 0.00388–0.00390, with 0.00393–0.00395 acting as immediate resistance. A potential bearish divergence in volume was noted near 0.00400, suggesting a temporary stall in upward momentum.

Technical Indicators

The 5-minute 20-period moving average crossed above the 50-period line in the afternoon, reinforcing short-term bullish bias. MACD crossed into positive territory, aligning with higher volume. RSI approached overbought levels (74) but failed to follow through on a breakout above 0.00400, suggesting caution.

Volatility and Bollinger Bands

Bollinger Bands expanded significantly during the afternoon, reflecting increased volatility. Price action remained within the upper band for most of the day but retracted toward the midline in the final hour, indicating potential profit-taking.

Volume and Turnover

Trading volume spiked sharply during the early morning (ET) and again in the late afternoon, coinciding with strong price advances. Notional turnover increased proportionally, offering confirmation of the upward move. However, volume dropped off after 16:00 ET, suggesting a possible pause in aggressive buying.

While the short-term technicals appear bullish, traders should remain cautious as RSI is near overbought levels and the price is testing prior resistance. A break above 0.00400 could signal a new upward trend, but failure to hold 0.00395 may result in a retracement to 0.00390 or lower. Monitor volume behavior closely for signs of conviction or exhaustion.