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Strong fundamentals push Dego Finance, Orbs and Harmony (ONE) price higher

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New partnership announcements and integrations with DeFi and cross-chain projects providing an extra boost to the price of Orbs, Dego Finance and Harmony.

Bitcoin (BTC) has continued to challenge the status of legacy markets as the market capitalization of the digital asset surpassed the combined market cap of Visa and Mastercard ($871 billion). Bitcoin’s $1.15 trillion market capitalization has also overtaken the combined value of JPMorgan Chase, Bank of America and the Industrial and Commercial Bank of China, which are the world’s three largest banks.

As Bitcoin gains in size and sustains it, several new institutional investors are likely to jump on the crypto bandwagon. Additionally, traditional businesses are closely watching the decentralized finance space and the rising popularity of nonfungible tokens. British-American auction house Sotheby's recently said that it will join the nonfungible tokens party by offering tokenized art by a creator named "Pak." This move could further boost interest in the NFT space.

ef9816f7-d683-4207-b441-7ccee39d3f33.pngCrypto market data daily view. Source: Coin360

Let’s look at the fundamentals and technical setu of a few tokens in the DeFi space and NFT arena that have been doing well in the past few days.

ORBS/USD

The DeFi space has been one of the major breakthrough areas in blockchain technology that has gained widespread adoption by investors. Orbs co-founder and head of R&D Tal Kol recently said in a YouTube video that the project has been looking at the DeFi space and how it can be used to disrupt the financial industry.

In the video, Kol hinted that hedge funds have been looking closely at the DeFi space but they may not enter in its current form. The hedge funds may seek certain changes before making the plunge. Kol did not give out many details on the upcoming projects, but he did say that Orbs is keenly looking at the DeFi space.

This chance of the Orbs team possibly working with the hedge fund industry could have generated huge interest in its ORBS token.

On the DeFi front, Orbs and Binance have launched a new accelerator for the DeFi ecosystem in January that will provide mentorship to the selected projects. In its recent update, Orbs said it had chosen its first set of projects for the accelerator program.

The March 15 partnership announcement between Orbs and Moonstake is aimed at increasing the adoption of blockchain technology in the finance industry and it might have also been viewed as a positive by traders.

ORB has soared from an intraday low at $0.044 on March 13 to an intraday high at $0.35 on March 16, a 695% increase within four days. This sharp rally had pushed the relative strength index (RSI) above 98 level, which is unsustainable.

c14106a3-9654-4c5a-bbdf-36cd2e23f03c.pngORBS/USDT daily chart. Source: TradingView

The long wick on the March 16 candlestick shows profit-booking at higher levels. The ORBS/USD pair could now enter a minor correction or consolidation. The first support on the downside is the 38.2% Fibonacci retracement level at $0.23.

If the price rebounds off this level, it will suggest that the bulls are buying on minor dips. This could result in a retest of $0.35. A break above this level could start the next leg of the uptrend that could reach $0.56.

On the contrary, if the bears sink the price below $0.23, the selling could intensify. The next support on the downside is the 50% retracement level at $0.19. A break below this level will suggest the bullish momentum has weakened and such a move could delay the start of the next leg of the up-move.

DEGO/USD

Dego Finance’s DEGO token was covered by Cointelegraph on March 2 when it was trading at $6.31. Since then, it has been on a tear and rallied to a record high at $34.20 on March 14, a 442% rise within a short time.

In the past few weeks, NFTs have been on a roll. Therefore, any project that is involved with NFTs has benefited immensely. Along with that, the March 10 listing on Binance's Innovation Zone was immensely successful as a total of $1.4 billion in Binance Coin was committed for DEGO’s launchpad sale.

Along with this, Dego Finance entered also into partnerships with several blockchains. Some of the more recent ones include strategic relationships with Apron Network, Mask Network and Clover. However, many analysts are warning that if the NFT space slows down, it could adversely affect several blockchains related to it.

The long wick on the March 14 candlestick shows profit-booking at higher levels. That was followed by a long-legged Doji candlestick pattern on March 15, which indicates indecision among the bulls and the bears

04ee0081-f3a7-4473-bf1b-a4a471edb7a3.pngDEGO/USDT daily chart. Source: TradingView

The bears are currently attempting to resolve the uncertainty in their favor as they aim to sink the price below the 38.2% Fibonacci retracement level at $22.37. If they succeed, the DEGO/USD pair could drop to the 50% retracement at $18.72.

A bounce off either support will suggest that traders continue to buy on dips. The bulls will then try to resume the uptrend by pushing the price above the all-time high at $34.20. If they succeed, the next target objective is $50.

Conversely, if the bears sink the price below $18, the pair could extend its decline to the 61.8% retracement level at $15. Such a deep fall could be followed by a period of consolidation before the next trending move starts.

ONE/USD

Harmony (ONE) was featured on Cointelegraph on Feb. 18 after it had rallied 230% since the start of the month. Traders who sold their holdings just because the price had risen sharply would have lost out on the subsequent rally. ONE surged from $0.028 on Feb. 18 to $0.108 on March 15, rising 285% within a month.

Let’s look at some of the fundamental developments that may have supported the rally in the token.

Harmony entered into a partnership with Reef on Feb. 19, enabling users and Dapp developers of both projects to reap mutual benefits of the integration. Another rumor making the rounds is a possible partnership with Visa. While a few participants posed this question during a recent AMA session with Harmony's CEO Stephen Tse on Reddit, they received no response.

Another positive event could be the upcoming bridge between Binance Smart Chain and Harmony. At the crux of every blockchain project is decentralization. The Harmony team has taken the first step in this direction by launching the governance app for the network, which will gradually empower the community to take decisions.

ONE has been in a strong uptrend since early February. The recent rise above $0.10 seems to have witnessed profit-booking as seen from the long wick on the March 15 candlestick.

6317dbb8-5670-4756-8829-2bacea235f83.pngONE/USDT daily chart. Source: TradingView

The bulls had attempted to push the price above $0.10 on March 16 but failed. This suggests the uptrend is tiring out as traders are booking profits on rallies. However, the bulls have not given up yet as they are trying to keep the price above the 38.2% Fibonacci retracement level at $0.073.

If they succeed, the ONE/USD pair may consolidate in a tight range before challenging the all-time high at $0.108. If the bulls can push the price above this resistance, the next leg of the uptrend could begin.

Alternatively, if the bears sink the price below $0.07, the decline could extend to $0.06. A break below this support could result in a fall to the 61.8% retracement at $0.05.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Source

  • 14.09.20 17:35 Анастасия

    Давайте биткоин по 20к

  • 14.09.20 17:40 Лысый Боб

    Подарите книгу)))

  • 14.09.20 17:41 Светлана П

    Hello

  • 14.09.20 17:48 Николаев

    Понеслась

  • 14.09.20 17:53 Щука А

    Слава эфиру

  • 14.09.20 17:58 Захар Трофимов

    Надо изучать Defi , интересно

  • 14.09.20 18:01 Попко Колян

    Давайте биткоин по 20к

  • 14.09.20 18:08 Попков С.А.

    Круто

  • 14.09.20 18:13 Алексей С.

    ​гуд

  • 14.09.20 18:18 Попков С.А.

    Как успехи?

  • 14.09.20 18:24 Попко Колян

    👍👍👍👍👍

  • 14.09.20 18:26 Егор Шетюк

    Понеслась

  • 14.09.20 18:26 Захар Трофимов

    15$. Тюмень рулит😁

  • 14.09.20 18:35 Константин В.В

    Биток и эфир держу до лучших времён)

  • 14.09.20 18:38 Попко Колян

    ​ДОБРОГО

  • 14.09.20 18:43 Даниил

    Рига смотрит

  • 14.09.20 18:46 Вадим Никулин

    Всегда смотрю Вас!

  • 14.09.20 18:55 Захар Трофимов

    Минск на проводе

  • 14.09.20 18:56 Щука А

    Спасибо за ваш труд

  • 14.09.20 19:01 Никита

    Хай

  • 14.09.20 19:06 Вячеслав Левков

    Отложил биток на пенсию

  • 14.09.20 19:13 Попков С.А.

    Отличные эфиры у вас

  • 14.09.20 19:20 Щука А

    Привет из Москвы

  • 14.09.20 19:25 Алексей С.

    Всем РЕСПЕКТ

  • 14.09.20 19:27 Николай

    Вперед криптаны

  • 14.09.20 19:34 КРИПТАН

    Слышно гуд

  • 14.09.20 19:36 Егор Шетюк

    Подарите книгу)))

  • 14.09.20 19:44 Светлана П

    миллионерам привет

  • 14.09.20 19:48 Вячеслав Левков

    Крипта скам=)

  • 14.09.20 19:53 Тоха

    Понеслась

  • 14.09.20 19:57 Носов А.А

    Рига смотрит

  • 14.09.20 20:04 Прокоп

    Донаты принемаете?

  • 14.09.20 20:06 Носов А.А

    спасибо

  • 14.09.20 20:12 Юрий Ник

    Тюмень рулит😁

  • 14.09.20 20:18 Даниил

    миллионерам привет

  • 14.09.20 20:18 Нина

    17$. Биток и эфир держу до лучших времён)

  • 14.09.20 20:24 Никита

    18$. Задонатю вам баблишка)

  • 14.09.20 20:25 Вячеслав Левков

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 20:26 Павел Скоровойтов

    Слава эфиру

  • 14.09.20 20:35 Носов А.А

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 20:36 Тоха

    Шалом

  • 14.09.20 20:44 Лена

    Биток и эфир держу до лучших времён)

  • 14.09.20 20:47 Нина

    ​ку-ку)

  • 14.09.20 20:53 Попков С.А.

    Все good. Ростем потихоньку и падаем, как всегда

  • 14.09.20 20:58 Санек

    Всем РЕСПЕКТ

  • 14.09.20 21:01 Славка Орехов

    Спасибо за ваш труд

  • 14.09.20 21:10 Ваня А,

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 21:13 Нина

    ​ДОБРОГО

  • 14.09.20 21:20 Никита

    Привет парни!

  • 14.09.20 21:25 Егор Шетюк

    Hello

  • 14.09.20 21:27 Вячеслав Левков

    ​ку-ку)

  • 14.09.20 21:33 Попков С.А.

    Тамбов с вами братва

  • 14.09.20 21:37 Серега Бумер

    Слава эфиру

  • 14.09.20 21:42 Ваня А,

    Подарите книгу)))

  • 14.09.20 21:50 Павел Скоровойтов

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 21:54 Захар Трофимов

    Привет парни!

  • 14.09.20 21:56 Санек

    Отложил биток на пенсию

  • 14.09.20 22:03 Носов А.А

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 22:03 Попков С.А.

    14$. Надо изучать Defi , интересно

  • 14.09.20 22:09 Николай

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 22:14 Вадим Никулин

    Я из РБ слежу за вами давно💰

  • 14.09.20 22:17 Николай

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 22:24 Лена

    ​Я снова с вами)))

  • 14.09.20 22:28 Носов А.А

    Отложил биток на пенсию

  • 14.09.20 22:31 Серега Бумер

    Тюмень рулит😁

  • 14.09.20 22:40 Светлана П

    Сморгонь 👍

  • 14.09.20 22:43 Вадим Никулин

    Отложил биток на пенсию

  • 14.09.20 22:46 Николаев

    Круто

  • 14.09.20 22:53 Ваня А,

    Люблю ваши трансляции, вы крутые!

  • 14.09.20 22:58 Вячеслав Левков

    Биток вперед!!!

  • 14.09.20 23:05 Носов А.А

    ​Привет всем с Украины!

  • 14.09.20 23:06 Носов А.А

    12$. ​здарова бандиты

  • 14.09.20 23:09 Константин В.В

    Отложил биток на пенсию

  • 14.09.20 23:14 Прокоп

    Екатеринбург на связи

  • 14.09.20 23:18 Николаев

    Круто

  • 14.09.20 23:25 Тоха

    ​здарова бандиты

  • 14.09.20 23:27 Попков С.А.

    Отличные эфиры у вас

  • 14.09.20 23:33 Лена

    Поможем парням лайками, я уже свой поставил

  • 14.09.20 23:39 Николаев

    Доброе утречко

  • 14.09.20 23:45 Лена

    Как успехи?

  • 14.09.20 23:49 Павел Скоровойтов

    ​ку-ку)

  • 14.09.20 23:51 Ваня А,

    Привет, пацаны. Слышно, видно хорошо

  • 14.09.20 23:57 Попков С.А.

    Хомяки тут

  • 15.09.20 00:01 Лысый Боб

    Привет, пацаны. Слышно, видно хорошо

  • 15.09.20 00:07 Санек

    Слава эфиру

  • 15.09.20 00:12 Щука А

    Екатеринбург на связи

  • 15.09.20 00:14 Нина

    23$. Лайк

  • 15.09.20 00:16 Юрий Ник

    Вперед криптаны

  • 15.09.20 00:25 Лена

    Биток и эфир держу до лучших времён)

  • 15.09.20 00:26 Попков С.А.

    Как успехи?

  • 15.09.20 00:33 Попко Колян

    Я из РБ слежу за вами давно💰

  • 15.09.20 00:40 Даниил

    миллионерам привет

  • 15.09.20 00:50 Константин В.В

    11$. Круто

  • 17.09.20 15:31 Trident

    купил билет на семинар который изначально планировался в субботу.... в пятницу не смогу послушать, гле посмотреть запись?

  • 24.09.20 12:08 Серго1985

    Как бабло зарабатывается??

  • 15.10.20 09:16 Vyacheslav

    отлично зарабатывается !)

  • 15.10.20 09:16 Vyacheslav

    у вас как?

  • 09.02.21 10:40 ave2510

    всем привет! кто то заходил в ю8д...?

  • 10.02.21 12:52 [email protected]

    почему я на юнисвоп не вижу токен NTFI

  • 16.02.21 18:27 Jessikagylu

    Всем привет. А какой интернет вы используете для майнинга? Прочла интересную статью https://hashalot.io/blog/vyjdet-li-majning-za-limit-trafika-kakaya-skorost-interneta-nuzhna-dlya-majninga/ и задумалась над этим. Какие характеристики сети у вашего провайдера?

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