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- 1 Inch will launch new tokens to the circulating supply on APR 5 2023 which will be 0.019% of the circulating supply
- Technical indicators of 1 Inch are favoring an upside trend. It has seen a pump of 4% in the BTC pair.
1 Inch Network is a decentralized exchange aggregator which facilitates the swapping of crypto assets across multiple liquidity sources while giving the best rate to their users. 1 Inch was launched in 2019 by Sergez and Anton. It quickly gained popularity among traders due to its low cost and efficient trading system. They also give a high degree of security and attractive prices. 1Inch token is used to pay for trading fees, liquidity provision, and accessing premium features. 1INCH token has a total supply of 1.5 Billion tokens of which more than 50% is circulating in the market. 1INCH has a total holder of 88,773 with a decline in unique senders and receivers. It has a total of 4.4 Million wallets with a total volume of $282 Bn.
1 Inch has a market cap of $454,697,655 and is ranked 92nd in the crypto-verse. The volume of the asset price has seen a pump of 44% in the intraday session. The volume-to-market cap ratio of asset price suggests a consolidated momentum in price.
Are 1 Inch Bulls Looking For An Upside Rally?
The weekly technical chart of 1INCH hints towards a consolidated trend in price. It is forming a bullish candle in the daily chart.1INCH is currently trading near the value of $0.549 with a gain of 5% in the intraday session. Resistance of 1 Inch can be observed near $0.7. Meanwhile, the support of the asset price can be observed near $0.4.It is down by more than 97% from its all-time high. 1 Inch is currently trading above the 50 and 100 Daily Moving Averages. The asset price may take support near the value of 50 DMA on a downside trend.
Macd histograms are favoring an upside momentum in the asset price.The overall sentiment of the MACD is bullish in nature.
Conclusion
1 Inch is currently observing a weak upside momentum in the daily chart. Various analysts are expecting strong growth in the future.
Technical Levels
Major Support:$0.35
Major Resistance:$0.75
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
