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- 1 1inch Network crypto price climbed higher after gathering strength from the 200-Day EMA.
- 2 The 1INCH/USD pair is up 2.86% intraday and trades at $0.39 at press time.
1inch Network crypto price structure strengthened on Friday after retracing the 200-Day EMA and snapped yesterday’s losses. The price closed in red through the last two sessions, testing the 200-Day EMA.
Moreover, 1INCH crypto experienced volatility and hovered back and forth in the last couple of sessions due to an indecisive trend in the short term. Including today’s gain of nearly 3% the weekly performance recorded a slight positive growth of 3.79%.
At the time of writing, the crypto was at $039 with a positive intraday development of 2.86%. The live market capitalization of 1inch is $448.949 Million and ranks 115th in the overall crypto market. The daily volume received was currently $26.252 with a 10% drop as compared to the previous day.
The short-term trend is inconclusive due to which the crypto is facing volatility near the 200-Day EMA. Moreover, the daily chart shows that the crypto price is stuck between the 50-Day EMA on the upper side and the 200-Day EMA on the lower side.
1inch Network Crypto Price Technical Analysis
Moreover, the trend outlook shows that 1INCH crypto performed well in the past few months and has noted significant growth. The crypto turned bullish in October 2023 and witnessed an upward trajectory till mid-January 2024.
However, the price dropped sharply in the last couple of weeks losing over 15% of its value. Despite losing over 15%, the crypto upholds over 27% gain in the last three months.
Furthermore, the long term outlook still favors the positive side as the crypto hovers above the 200-Day EMA. However, the breakdown below the 200-Day EMA may indicate a trend reversal.
Currently, the price has bounced back from the 200-Day EMA, suggesting the presence of buyers at the lower levels. Now, if the crypto manages to sustain above the EMA and surges, forming higher lows, it may resume an uptrend.
Also, any breakdown below the 200-Day EMA may trigger long unwinding and the crypto may decline sharply in the short term.
1inch Network Price Prediction February 2024
As per the most optimistic view of our analysts, the 1INCH price could reach a high of $0.466 by the end of the month. The bearish view of the analysts hopes for 1INCH crypto to break below 200-Day EMA after which the price may test lower levels of $0.35 and $0.3.
1inch Network Price Prediction 2024
The price prediction for 2024 shows that the 1inch Network crypto may rise to a high of $0.68 by the end of 2024 if a positive trend prevails. However, the less optimistic analysts estimate a price target of $0.54 by the end of 2024.
1inch Network Price Prediction 2025
As per the most positive view of our analysts, the 1INCH price may attain $1.085 by 2025, suggesting an upside potential of 177.68%. On the other hand, the most pessimistic view of the analysts expects the price to reach $0.74 by the end of 2025.
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 or stock comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
