1inch price prediction has turned bullish for 2024 and suggests that a surprising rally is possible in the coming months.
Gradually, the 1inch Network price is recovering by taking support near $0.2209. It managed to sustain the price above the 50-day EMA; showcasing the short-term trend has reversed upward.
Recently, buyers succeeded in breaking out of the 200-day EMA which added fuel to the momentum. The 50-day EMA sloping upward may positively intersect the 200-day EMA.
If the crossover takes place, then it will display a golden crossover and increase the possibility of continuing the rally.
The price chart of 1inch/USDT is bullish and buyers look more aggressive as compared to sellers. Therefore, it’s better to play bullish bets and stay with the trend.
1inch Network price is near the crucial resistance so the price might witness minor profit booking. However, till it sustains above the 50-day EMA, any short-term retracement will have a high possibility of bouncing back.
At the time of writing, the 1inch price is trading at $0.3637 with a one-day decrease of -0.63%. The 24-hour volume to market cap is 5.92%.
Will 1inch Price Perform Well and Reward its Investors?
1inch price prediction suggests that bulls will lead the rally and the price may hit a new swing high in 2024. The recent upmove is supported by genuine buying so prices are likely to hold the higher levels.
However, 1inch Network crypto price will pick up momentum when buyers succeed in breaking out of the $0.4500 hurdle.
Till the price sustains above both the EMAs, the probability of a $0.4500 breakout remains high. Therefore, investors may look to buy 1inch at current levels to generate decent returns.
The analysis suggests this crypto is highly undervalued and trading at a cheaper price. So, investors should include it in their portfolio.
Will 1inch Network Price Break The Trendline?
On a weekly time frame chart, 1inch Network price looks in a downtrend and faces resistance at the trendline.
It forms a bullish hammer candle showing the strength of the bulls. So, the price may break out of the trendline in the coming weeks. If the price begins to trade above the trendline, then 1inch crypto will turn bullish on a weekly chart.
The MACD curve slopes sideways in a day time frame chart indicating bulls have lost the momentum. However, the price action favors the bulls and suggests minor consolidation after the bulls return back on track.
The RSI at 60 cooling off from the overbought territory and may test the neutral zone in the coming few sessions.
Conclusion
1inch price prediction suggests bulls are active and it may perform well in 2024. The next phase of recovery will be visible when buyers break the $0.4500 hurdle.
The analysis says the 1inch Network price will continue the recovery and may reach the $1.00 mark by the end of 2024.
Technical Levels
- Resistance levels: $0.4500 and $0.5849
- Support levels: $0.3000 and $0.2209
