ONE/USDT Technical Analysis (July 24, 2021)

After reaching its swing low, ONE/USDT went 5 waves up inside an ascending channel . As you can see, ONE/USDT reached its 5th wave in a leading diagonal formation which we expect to be broken in order to start the ABC corrective intermediate cycle. My target for the ABC correction is the previous wave 4 (0.06300). If ONE manages to break below this level, we may see it continuing its way for more downside towards the beginning of the channel.