In recent weeks, One-inch’s (1INCH), price has shown great strength against USDT (tether). As price rises to $1.3, it will show some support. Bitcoin’s (BTC) price has shown a little strength bouncing off from key support, leading to most crypto assets popping out from their shell, with the price of One-inch (1INCH), not an exception. (Data from Binance).
A Weekly Chart Price Analysis for One-inch (1INCH).
Recent price movements of 1INCH have shown some signs of strength. They went from $0.5 low to $0.75 high. 1INCH’s price has experienced quite an upheaval, falling from an all-time record high of $7.8 and sinking to as low as $0.5 on the weekly charts.
1INCH’s price formed weekly support in the low area; 1INCH continues to gain strength, with more orders for the crypto asset.
1.INCH Price is facing resistance at $0.83. This will allow it to surpass the trendline to the $1.3 mark. If the structure of 1INCH remains intact, then this is possible.
1INCH trades above $0.5 per week and eyes are set for higher highs.
Weekly resistance for the price of 1INCH – $0.83.
Weekly support for the price of 1INCH – $0.55.
Prices Analysis of 1INCH on the Daily (1D), Chart
The daily price of 1INCH fell to $0.5 and then rebounded. This is because it formed strong support. Price rallied to $0.7, where resistance exists to break higher towards $1.
1INCH’s price must remain bullish and there should be more buy orders in order for it to move above $0.7.
1INCH traded at $0.7 less than the Exponential Moving Averages (EMA) of 50 and 200. Price ranges of $0.7 to $1.1, which is 50 and 200 EMA respectively will not allow 1INCH to rise.
Daily (1D) resistance for the 1INCH price – $0.7-$1.
Daily (1D) support for the 1INCH price – $0.55.
Pricing Analysis of 1INCH on The Four Hourly Chart (4H).
In the fourth quarter, 1INCH’s price looked bullish following its break out from the symmetrical triangular triangle. However, after rallying to $0.7 it encountered resistance and was ultimately rejected.
The key to sustaining bullish sentiment is if the 1INCH price holds above the 50 EMA support level.
To trade close to $1, 1INCH must flip its resistance at $0.72. This corresponds with the 200 EMA. We could see 1INCH’s key support being reaffirmed if the 1INCH price fails to maintain its $0.68 support.
Relative Strength Index (RSI), for 1INCH, is over 50. This indicates that there was a lot of buy orders for the price.
Four-Hourly (1H) resistance for the 1INCH price – $0.7.
Four-Hourly (1H) support for the 1INCH price – $0.68.
Featured Image from zipmex. Charts from TradingView.com