1INCH Price Analysis: 1INCH Coin Price Consolidation Might Be Coming To An End

• 1INCH coin price has been on a consolidated mode and can soon see a strong upside trend in the future. The asset has seen a jump of more than 2%.
• Technical indicators of 1 INCH hints towards a downside move in upcoming days. 1INCH/BTC pair is also up by more than 1.8%

1INCH coin price has been seeing a strong consolidation near $3 and can soon see a breakout in the future. 1inch price has been exchanging close to the worth of $2.5 with a gain of more than 3% in the past 24 hours. The resource has an ROI of over 100% which has helped different sorts of financial backers. It needs to travel more than  76% of its present worth to arrive at its unsurpassed high. It is currently seeing a halt but can soon see a major momentum in the future. One can figure that the asset may see strong upside gains once the market rises.

1INCH coin market dominance alongside the market cap is seeing a recuperation and has fallen to a lower level;. The volume of the 1inch has also been in a bearish mode and can see a new low in the future. Volume to market cap ratio of 1inch hints towards a downside trend for upcoming days. One can put resources into 1INCH as per their necessities and risk limit for the users.

Technical Indicators Of 1INCH Coin Price Hints A Strong Consolidation In Price

1INCH weekly technical chart suggests a strong consolidation trend in the price for the future. It has observed a loss of more than 4% in the weekly time frame. On coming to the daily chart the asset is hovering in a consolidated zone. The upside potential gain of 1inch while moving upwards can see a halt near $3.5. The support of the price can be seen near $1.5 on the downside move. The price of the coin is trading below the 50 and 100 Daily Moving Average with a bearish crossover. The 50MA is near $2.9 and the asset can see a strong upside breakout. If the price moves 15% above the current threshold then a strong upside momentum can be seen. 1 INCH/BTC can also observe a strong trend in the future.

Conclusion

1INCH coin price has been on a bearish mode and can soon see a strong upside momentum in the future. 1INCH/BTC pair might also observe a strong move.

Technical Levels

Major Resistance: $3
Major Support: $1.5

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