Traders scanning the order books encountered an abrupt move as the price of ONE, the native token of the layer-1 blockchain Harmony, climbed 10.98% to $0.004336 in just 60 minutes. The single-hour jump extends a recent stretch of rising interest and activity surrounding the token, and it came alongside a wide 24-hour range in which the price touched a low of $0.00366 and a high of $0.005147, suggesting momentum is building.

What Happened

The surge arrived while the broader cryptocurrency market displayed mixed signals, offering no single directional cue for the session. ONE's trading volume reached approximately $94.55 million over the past 24 hours, indicating robust interest from investors. Notably, the coin recorded a 70.37% increase over the last day, a level of gains that points to heightened enthusiasm among traders. According to market observations, significant whale accumulation could be a key driver behind the price movement.

Market Snapshot

Following the sharp hour, ONE's value rested at $0.004336. The daily low was logged at $0.00366, while the high reached $0.005147, underscoring the volatility present in the market; the gap between those two extremes works out to a swing of roughly 40%, a wide band for a single day of trading. The substantial trading volume of more than $94 million reflects strong investor engagement, a factor the report describes as potentially pivotal for future price movements. For readers newer to the metric, 24-hour volume tallies the total value of a token traded across the market in a day and is commonly used to gauge how much activity stands behind a price move.

The Bigger Picture

Market observations suggest the recent spike in ONE's price may stem from increased whale activity. Large wallet movements are often interpreted as strategic accumulation, and such flows can shape sentiment. Whale actions of this kind can create a ripple effect, drawing in smaller investors who look to capitalize on upward momentum. The trend also aligns with broader interest in altcoins — generally, cryptocurrencies other than Bitcoin — as investors search for opportunities beyond the major cryptocurrencies.

The Road Ahead

Traders are closely tracking ONE's price action for potential breakout levels. Key resistance is seen near $0.0051, while support is established around $0.004. Per the report, a break above resistance may signal further bullish sentiment, while a fall below support could indicate a correction amid the market's ongoing volatility.

This article was originally published on Coinfomania.