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- 1 1inch network price prediction showcases the recovery of 1INCH crypto through an interesting pattern.
- 2 1INCH crypto is trading above 20 and 50-EMAs to reach the 100 and 200-days daily moving averages.
- 3 1inch cryptocurrency has declined by 30.21% year to date.
1inch price has been rising inside an ascending parallel channel over the daily time frame chart. Analysts believe 1INCH crypto may recover maximum through the rising parallel channel. Meanwhile, 1INCH crypto needs to accumulate buyers in order to register its breakout from the upper trendline of the rising parallel channel pattern. However, volume change is below average and needs to grow during the intraday trading session.
1inch price was at $0.268 and lost 0.37% of its market capitalization intraday. Trading volume increased by 6.66% during the intraday trading session. This demonstrates that buyers are trying to accumulate to push 1INCH crypto upwards. Volume to market cap ratio was 8.05%.
Will 1INCH Price Maintain in the Pattern?
1INCH price prediction showcases the recovery of 1INCH crypto through the rising parallel channel over the daily time frame chart. Meanwhile, 1INCH crypto needs to accumulate buyers in order to surge towards the $0.60 mark. However, volume change is below average and needs to grow during the intraday trading session to push 1INCH crypto upwards. Meanwhile, 1INCH crypto is trading above 20 and 50-EMAs to reach the 100 and 200-days daily moving averages.
Over the past week, the price of 1INCH crypto increased by approximately 1.52%. Looking at a one-month timeframe, the gain was 14.52%. However, over the last three months, 1INCH has experienced a significant decline of around 18.54%, and over the last six months, it fell by a substantial 50.19%. Additionally, on a year-to-date basis, 1INCH crypto has seen a decrease of approximately 30.21%.
Technical indicators for 1INCH crypto are currently indicating a potential recovery within an upward-sloping parallel channel pattern. However, it’s worth noting that the relative strength index (RSI) shows a slight downturn in 1INCH crypto. The RSI currently stands at 57, and it is attempting to stay above the neutral level. Investors in 1INCH crypto should exercise patience and consider waiting for 1INCH to reach the upper boundary of the ascending parallel channel pattern before making significant decisions.
Summary
1inch price has been rising inside an ascending parallel channel over the daily time frame chart. Analysts believe 1INCH crypto may recover maximum through the rising parallel channel. Meanwhile, 1INCH crypto needs to accumulate buyers in order to surge towards the $0.60 mark. Additionally, on a year-to-date basis, 1INCH crypto has seen a decrease of approximately 30.21%. The technical indicators for 1INCH crypto are currently indicating a potential recovery within an upward-sloping parallel channel pattern.
Technical Levels
Support Levels: $0.260 and $0.255
Resistance Levels: $0.270 and $0.285
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
