1Inch
1INCH Price Analysis: Momentum gets derailed by 1inch Network bears
1INCH Price Analysis: Momentum gets derailed by 1inch Network bears
•The technical indicators suggest a hawkish outlook for the near term
Short Term View: Another downturn on the cards for 1inch Network?
The 1inch Network price today is $0.379124 USD with a 24-hour trading volume of $13,666,484 USD. 1inch Network is down 1.05% in the last 24 hours. The trading volumes have decreased slightly over the past day whereas Volume to Market Cap Ratio stands at 0.04613 for the altcoin.
With the continued emergence of the bears in the market, 1inch Network investors haven’t had a chance to catch their breath. The negative trajectory undertaken by the asset has put paid to the bulls’ hopes of reclaiming the market as the 1inch Network price is currently transacting below the 20,50 SMA on the four hour chart. The next important hurdle for the bears to overcome is placed at $0.30 whereas the bulls will be looking to make a splash towards the $0.50 resistance level.
Long Term View for 1inch Network
The RSI for 1inch Network is currently transacting at 32.47 and the bears will be lurking with bated breath in order to drag the altcoin into the oversold territory. The green histograms have dipped in size on the daily chart even as the bears have made a comeback into the market. A long line of suitors awaits the altcoin as the MACD and signal lines are also transacting deep into the negative territory.
Conclusion
1inch Network is showing weakness at the current price levels and buyers are likely to be in short supply in the market. Hence the downtrend is likely to persist in the altcoin over the coming days as the bears go about their merry ways.
Support: $0.30-$0.25
Resistance: $0.42-$0.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Verdict: John McAfee ‘died by suicide’, Spanish court rules
Crypto Analyst Says Bitcoin (BTC) Is ‘Worth Watching’, Dives Deep Into Chainlink (LINK)
