- The trading volume of 1Inch token in the last 24hr at the time of writing this article is +49%
- The price of 1INCH/BTC and 1INCH/ETH at the time of writing this article is 0.00005718 BTC and 0.0009185 ETH
- The price is above the resistance
LONG TERM VIEW:-
In the daily time interval, we can see that the price is above the resistance level, which the bulls could not break in the previous two attempts. Let’s look at the technical indicator if the price can sustain above the level or not? Firstly, we can see the MACD, which is showing green histograms as the MACD line is above the signal line, and there is no sign that the line will change its direction soon. In addition to that, we can see the RSI is in the neutral zone near 63, and the RSI line is pointing towards the overbought zone of 70, meaning the bulls are winning the fight against the bears. Lastly, we can see the Moving average as the 20MA is above the 50MA and 100MA, which is a bullish sign and the 20MA just crossed the 50MA, which triggered the buy signal.
SHORT TERM VIEW:-
In the 4hr time interval, we can see the price is above the resistance level, and the price is taking support on the 20MA. The MACD shows a green signal as the MACD line is above the signal line, and there is no sign that the line will cross each other soon. In addition to that, we can see the RSI is in the neutral zone near 69 as the RSI line is pointing towards the overbought zone as the bulls are winning the fight against the bears. Lastly, we can see the 20MA is above the 100MA and 50MA both, and the 100MA is very close to the 50MA, which means there either can be a bullish or bearish movement.
CONCLUSION:-
Looking at both long term and short term, we can see that the trend is bullish and the price may come down and then take support of 20MA and bounce back up to make a higher high and the price will be able to sustain the resistance.
RESISTANCE:-$4.03,$4.50
SUPPORT:- $3.35,$2.96