1inch Price Analysis: 1INCH May Give Upto 50% Returns

1inch may hit upto $5
  • 1inch bounced back from $3.50 and is now trading at $4.12 on Monday’s trading session.
  • The ENJ/BTC pair was trading at 0.00008121 BTC with a gain of 1.80%

Positive Rally In 1inch Has Begun 

Source: 1INCH/USD on TradingView

1inch price was $4.12; according to pivot points, 1inch’s critical support level is placed at $3.50. Whereas if it moves up, the key resistance level to watch is $4.32. While diving into the weekly chart of a 4-hour time-frame, it completes a pin bar candlestick pattern, representing a sharp reversal and rejection of price.

SMA-50 & 100 acts as another strong support in the coin. SMA-50 (purple) is below the SMA-100 (white), which projects a bearish trend. The price is fighting the SMA-100; it is a positive sign for the asset if it breaches. 

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RSI indicator (BULLISH), with a value of 58.95, indicates a bullish situation in the coin. Moreover, Investors may see the movement of price towards the overbought zone in future trading sessions.

Hold Your Positions in 1inch Coin  

1inch traded at $4.12 with a gain of 2.91% in the last 24-hour. However, 1INCH is neutral at 0.01% on the weekly time-frame. In contrast, the market capitalization stands at $59 million. Technically, investors can perceive the price is fighting the SMA-100. Moreover, 1inch will hit the resistance of $4.32 in future trading sessions.

Resistance: $4.32

Support: $3.50

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Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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