- 1inch Price Prediction suggests a relief rally is possible if certain conditions are met.
- The 1INCH Network Price recovered 50% approx from the recent swing low.
- 1inch crypto price struggles to climb above the 50 day EMA.
1inch Price Prediction suggests significant rise is possible if buyers are able to regain the $0.4000 mark.
1inch crypto price recovered 50% approx from the recent swing low at $0.2363 trying to climb above the 50 day EMA. If buyers succeed then the short term trend will reverse in the upward direction. However, the 200 day EMA placed slightly higher which will act as a strong hurdle for the bullish traders.
For the past few months, 1INCH Network Price is in downtrend and declining by forming lower low swings. It drops below the $0.4000 support which triggers the negative sentiment and invites further decline.
In the mid of June, The downfall in the 1INCH Price took halt near $0.2363 and responsive buyers showed their presence. Slow and steady prices are recovering and buyers are trying to bring back the confidence of investors.
1inch Price is trading at $0.03341 with an intraday decline of -2.25%. The 24 hour volume to market cap is 6.50%.
The 1inch/BTC Pair is trading at 0.00001081 with an intraday decline of -1.55%. The price chart of 1inch with BTC pair is downtrend and no signs of pull back is visible.
Will 1inch Price be able to reverse the short term trend?
1inch Price corrected 65% approx in the past few months and disappointed the expectation of the investors. The recent up-move looks a little powerful and reliable because the overall market is also performing.
Therefore, the 1inch Network Price is likely to continue the recovery for some more time. Till the price holds the $0.3000 level the probability of short term trend reversal remains high.
However, the price will gain momentum when buyers are able to break out of the $0.4300 hurdle level. Whereas, if the price faces rejection from the 50 day EMA then bears will try to drag it down to the previous lows.
The technical analysis suggests, 1inch Coin Price is in recovery mode but the strength in pull back is not visible.
1inch crypto Price attracts genuine buyers at lower levels
1inch crypto Price formed a bullish hammer candle on the weekly time frame. It shows that the buyers are active at lower levels. The volume is also on rise indicates some genuine buyers are showing their and participating in the pull back rally.
The MACD curve is rising and likely to break the zero line. It generates a positive crossover and histogram bar is green indicates mild bullishness. The RSI at 54 near to the neutral territory denotes balance between bullish and bearish positions.
Conclusion
1inch Price Prediction suggests a rise and short term pull rally is possible. The 1inch Network Price is in recovery mode and likely to climb above the 50 day EMA in the coming few weeks.
Well the strength in the pull back rally is visible when buyers are able to break out of the $0.4287 hurdle.
Technical levels
Resistance levels: $0.4287 and $0.6100
Support levels: $0.3000 and $0.2363
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.