- 1INCH is currently trading at $0.4086 with a drop of 34.11% in the last 24 hours with a current market cap of $474,316,057.
- 1inch Network crypto price decreased by 4.64% over the past seven days.
1INCH is showing weakness. Despite briefly breaking above the $0.7033 trendline, the bullish momentum was short-lived as the bears pushed down the price.
For the past few months, 1inch Network’s cryptocurrency has been in a downtrend, forming lower highs and lower lows patterns, and facing resistance from the upper trendline, which prevented it from breaking out of the trend. The price action indicates that 1inch Network’s crypto has been under selling pressure, and the buyers have been passive. On the other hand, the sellers have a strong advantage and continue to make short positions.
Daily Active Addresses Vs Price
The daily active addresses and the price decline in recent times showcase the decline in the buying and selling activity in the 1INCH crypto.
Technical Analysis Of 1INCH Network Cryptocurrency Price in 1-D Timeframe
The current trading price of 1inch Network crypto is below both the 50-day and 200-day EMAs. These EMAs are currently providing support to the price trend. However, if there is an increase in selling pressure, the price could break below these EMAs and continue falling.
The RSI is currently at 38, which places it in the neutral zone. However, the 14-day SMA is above the RSI curve, which is a bearish signal.
The MACD indicator is also bearish, with the MACD line crossing below the signal line. This indicates that the 1inch Network crypto is likely to continue to fall in the near future. Overall, based on these technical indicators, it appears that 1inch Network crypto is bearish in both the short and long term.
At the time of writing, 1INCH was trading at $0.4090, with an intraday minor loss of 3.92%, breaking below the 200-day EMA. Additionally, the intraday trading volume also showed a decline. The market cap of 1INCH crypto is $473,623,117.
In the last week, the cryptocurrency has experienced a decrease of approximately 4.64%, and this decline has also been seen over the course of a month, reaching around 31.59%. Looking back over a three-month period, the crypto has dropped by about 0.61%, while extending to around 39.24% over the last six months. Furthermore, the crypto’s performance throughout the year has been lackluster, with a year-to-date slump of approximately 4.44%.
Summary
1INCH is showing signs of weakness – it has lost the gains made on the way past the moving averages. The bullish momentum was short-lived as the bears pushed down the price. The buyers failed to sustain the momentum, resulting in a decline in the crypto price. The price action indicates that 1inch Network’s crypto has been under selling pressure, and the buyers have been passive.
Technical Levels
Support Level: $0.3500
Resistance Level: $0.5000
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.