1inch Price Analysis: Will 1inch Surge Above $5.63?

1inch bounced back from the support of $3.62
  • 1inch bounced back from $3.62 to $4.94 on Friday’s trading session
  • The 24-hour volume in 1inch is at $143,026,582 with a 28.80% decrease
  • The 1inch/BTC pair was trading at 0.00008471 BTC with a gain of 3.50%

Source: 1inch/USD on TradingView

The 4-hour technical chart of 1inch projects an uptrend. According to pivot points, 1inch’s critical support level is placed at $3.62. Whereas if it moves up, the key resistance level to watch is $5.63. While diving into the weekly chart of a 4-hour time-frame, it completes a three white soldiers candlestick pattern which represents bulls are in control.

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SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) intersects above the SMA-50 (white), which projects a bullish trend. The price is also above SMA-100 (red). Investors may perceive a positive crossover in the SMA, and the price will also follow the positive trend.

RSI indicator (BULLISH), with a value of 64, indicates a buy signal in the coin. Moreover, Investors can see an upward slope from 52 to 64 in the index, and it may surge more in future trading sessions.

Bullish Trend Confirmed In 1inch 

1inch price traded at $4.94 with a gain of 4.80% in the last 24-hour. Furthermore, 1inch bounced back from the support of $3.62. In contrast, the market capitalization stands at $737 million. Technically, investors can perceive a positive crossover in SMA. Moreover, the price movement can be towards the resistance of $5.63.

Resistance: $5.63

Support: $3.62

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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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