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- 1 1inch Network price prediction is mildly bearish till the price trades below 200-day EMA.
- 2 1inch crypto price faced rejection from the 200-day EMA and also dropped below the 50-day EMA.
- 3 The pair of 1Inch/BTC is trading at 0.00001071 with an intraday decline of -1.11%.
1inch Network price prediction is mildly bearish and sellers seem to be dominating on the higher levels. 1Inch crypto is in a downtrend and forming a bearish pattern.
1inch price is trading below the 200-day EMA showcasing a positional trend in a downward direction. It also dropped below the 50-day EMA which invites further decline.
In the mid of June, 1inch crypto price took support near $0.2500 and some responsive buyers came forward to push the price higher. 1inch Network price consolidated for a few weeks for the base formation.
In the mid of July, 1inch crypto witnessed a massive spike in the buying volume and prices also showed a sharp rise.
However, buyers failed to hold the higher levels and displayed a long-tail bearish candle. The sharp rejection indicates the previous up move was speculative and is a bullish trap. Presently, prices are again returned back to the demand zone.
1inch price is trading at $0.3102 with an intraday decline of -0.67%. The 24-hour volume to market cap is 8.08%. The pair of 1INCH/BTC is trading at 0.000001071 with an intraday decline of -1.11%.
Will 1inch Price respect the demand zone?
1inch Network price prediction suggests bears are dominating and prices are likely to trade with a bearish bias. The overall crypto market is also turning bearish which might negatively impact the prices of other Altcoins.
Till 1inch crypto price remains below $0.4500 any short-term up move will face difficulty to sustain on higher levels. However, if the buyers succeed to break out of the $0.4500 then a 25% to 30% upside will open.
The technical analysis suggests 1inch crypto is near to demand zone, and no signs of recovery are visible.
1inch crypto formed a Doji candle
1inch crypto formed a Doji candle on the weekly time frame indicates indecisiveness. In the past few sessions prices stuck into the narrow range consolidation. The next direction will be visible when prices break either side of the range.
The MACD slopes sideways indicating prices are likely to consolidate for some more time. The RSI at 46 denotes neutral territory and a balance between bullish and bearish positions.
Conclusion
1inch Network price prediction is bearish till it trades below the 200-day EMA. The technical analysis suggests 1inch crypto price is in bear grip, and the probability of pullback is low.
Technical levels
- Resistance levels: $0.4500 and $0.5877
- Support levels: $0.2500 and $0.2000
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
