Harmony (ONE) is trading mostly bullish, a day after touching a new ATH on the back of an uptrend lasting over the past four sessions, supported by an optimistic mood in the wider crypto sector as well as in the DeFi space. At the time of writing, ONE/USD is trading at around $0.365.

Harmony’s blockchain platform employs a unique random state sharding to facilitate high transaction speeds and support dApps and has recently rolled out a significant network upgrade. Dubbed Mainnet 4.3.0, it brings with it reduced internal voting power from 60% to 40% and has increased external nodes from 800 to 900.

Its native token ONE has been on the rise since August when Harmony announced a $1 million hackathon to encourage the development of Web 3.0 and Web 2.0 projects in its ecosystem. Following this, its developers announced a $300 million ecosystem development fund early last month, attracting new projects to its network. Recently, leading DeFi protocols SushiSwap, AAVE and Curve launched on the Harmony platform with exciting rewards to incentivize user adoption. One more upcoming development in the DeFi space to look forward to is that of WePiggy which has already launched on Harmony’s testnet.

Harmony Offers Several Upcoming Developments in Interoperability

ONE is also likely to see its uptrend gain further strength in the coming weeks as November brings with it several interesting developments to Harmony’s blockchain. For starters, it will get quite the boost in the interoperability space after the launch of Polygon Bridge and Cross-Chain API on its testnet. Harmony’s developers are also working on bridges with other leading networks, including Bitcoin, Ethereum and Cosmos.

Taking this concept further, the blockchain is also collaborating with interoperable protocol Composable Finance to integrate its protocol into its Layer 2-Layer 2 Bridge cross-layer infrastructure. When the integration is complete, Harmony’s projects and infrastructure can conduct seamless transactions across all L2 networks of Composable Finance, vastly improving scalability and on-chain activity.

Another interesting update to look forward to is an upcoming integration of its 1Wallet with Apple Pay as well as bank wires, which will spur the use of ONE. This integration, along with support for cross-chain NFTs (live on Harmony’s Devnet) will give the ONE token even more support in the coming weeks.

ONE/USD Technical Analysis

Leading crypto analyst WSB Crypto Mod has frequently listed Harmony’s ONE as one of their factor projects to monitor during the upcoming bull run in the crypto market. According to their analysis, ONE can easily break out to the upside, targeting a range between $0.40 and $0.50 against the USDT soon.

On the 4-hour price chart of ONE/USD, moving averages along with leading technical indicators MACD and momentum are suggesting a strong bullish bias. Harmony’s price is sitting well above the pivot point at $0.27 and has also made its way past resistance at $0.33.

It looks like the buyers are getting ready to test the second resistance coming up soon, at $0.38. A break past this opens the door for ONE to move past the $0.40 mark, so keep a close watch on the price action.