1inch Network Price Analysis: Will 1INCH Surge to hit $0.59


  • 1inch Network is presently valued at $0.50
  • 1inch Network gain bullish momentum over the past week gaining 0.9%.
  • 1INCH/USD medium term support stood at $0.52.
  • 1INCH/USD is confronted with resistance level of R1 at 0.59 dollars.

26 April 2024 : In this article we will walk you through 1inch Network price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for 1inch Network, Is 1INCH a good investment? 1inch Network support & resistance levels etc. But before diving deep into the 1INCH technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,356,940,702,919. The total trading volume stands at $72,711,803,207. Bitcoin shares 53.54 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $64,136.70 level after an upward movement of 1.06%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 0.54 percent reaching to $3,128.20 during the previous 24 hours.
While publishing this blog, BNB traded at $601.77, following a price change of -0.7%within the same time frame. SOL the native coin of Solana is down by -0.75 and currently trading at $142.83. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

1inch Network Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of 1inch Network (1INCH)

1INCH Resistance Levels 1INCH Support Levels
Resistance Level 1 $0.59 Support Level 1 $0.54
Resistance Level 2 $0.60 Support Level 2 $0.52
Resistance Level 3 $0.63 Support Level 3 $0.50

1inch Network Performance

1INCH has recorded a upsurge, gaining 6.26% in last 24 hours. The current value of 1inch Network is hovering at $0.50 with the trading volume of $49,600,707.00 USD in the same timeframe. The overall marketcap for 1INCH is $565,402,646.00 USD while the coin price changes 0.9% over the week.

1inch Network Price Analysis

1INCH price analysis for 26 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the 1inch Network.

Moving Averages Price Indicator
Simple Moving Average (10) 0.57 Sell
Exponential Moving Average (10) 0.57 Sell
Simple Moving Average (20) 0.58 Sell
Exponential Moving Average (20) 0.58 Sell
Simple Moving Average (50) 0.61 Sell
Exponential Moving Average (50) 0.61 Sell

The 1inch Network has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take 1INCH price below the crucial support level of $0.54. The MACD line is standing above of the signal line after a positive crossover. 1inch Network investors need to wait for any directional change over the daily chart. RSI implying consolidation phase while trading at 47 and is trying to break out of the neutrality zone. While 1INCH’s Williams %R indicator is at -62.883 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

The 1inch Network market is shown signs of being optimistic, and buyers have the potential to drive prices of the cryptocurrency higher in the next few days. The price of 1INCH is expected to break above its resistance level of $0.59. On the other hand, if 1inch Network broke out from the bullish pattern and led its way toward support level of $0.54.