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Peter Oleshchuk
Apr 28, 2022
by Peter Oleshchuk

1INCH Technical Analysis: Positive Beam Is Almost Invisible

1INCH

Table of contents

  1. Technical Analysis Of 1INCH On The Daily Timeframe
  2. 1INCHBTC Price Movement
Unfortunately, the March positive in the form of 1INCH price growth did not grow into a new trend. As we can see on the weekly chart, rapid growth and increased trading volumes are not yet an indicator of the strength of buyers. Especially if for almost a year before the 1INCH price fell steadily. For 4 weeks of March, buyers were able to raise the 1INCH price by 55%. Instead, sellers lowered the price before the start in the same 4 weeks and made twice as much effort.

1INCH

Therefore, nothing will stop sellers from continuing to fall to the critical mark of $1. This mark is the last chance for buyers to change the market situation. Below $1 in the 1INCH market, a long-term depression will begin and the search for a strong foundation to stop falling prices. Thus, a positive scenario for the cryptocurrency 1INCH is to stop the price near the $1 range and start a set of positions for growth in the form of consolidation.

The beginning of a new growth trend can be considered the fact that the price is fixed above $1.3. As soon as buyers manage to break the mark of $1.3 and fix above it in the weekly timeframe, it will be a signal for conservative investors to buy 1INCH cryptocurrency with a target of $1.9.

Technical Analysis Of 1INCH On The Daily Timeframe

TradingView Chart

Analyzing the price movement of 1INCH on the daily timeframe, we can not yet find clues to the local positive. Thus, the 1INCH price reached the local liquidity range of $1.3. However, pay attention to the daily candle from 26 April. Sellers forced the price not just to fall but to fall into the liquidity range. The trading volumes are low. What was the reaction of buyers to the test of the price of the liquidity zone? None. It can't even be called a rebound.

Nevertheless, we do not expect even a local growth wave from the $1.3 mark. However, it is too early to open a position on the decline. The 1INCH price must first confidently break the $1.3 mark and stay below it. Then such a short position will be safe.

1INCHBTC Price Movement

1INCH

The weekly timeframe of the 1INCHBTC price movement also does not give its investors a positive. The test of the main liquidity range of buyers 0.000033 fails. Buyers are not interested. Sellers are managing to accelerate the downward trend near historical lows on low volumes. Everything hints at the inevitable final impulse of the fall. Therefore, until we see significant resistance to the trend of falling and increasing trading volumes, we are not ready to invest in the 1INCH cryptocurrency. While the price is below 0.000048 in the market is a clear and protracted downward trend. And such trends are quite long and difficult.

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1INCH Technical Analysis: Positive Beam Is Almost Invisible
Peter Oleshchuk
Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

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