1inch Network offers a decentralized protocol with a lucrative and fast operation in the DeFi space. Its Decentralized aggregator solution deals with multiple liquidity sources to provide better rates for individuals. This network uses the Pathfinder algorithm to find the best path from more than 240 liquidity sources from the BNB chain, Polygon, Ethereum, Avalanche, etc. This network has already aggregated over 1 million users with the $150B volume in the Ethereum network only.
The 1inch liquidity is known as the next-generation automated market maker where investors and liquidity providers will have a lucrative opportunity. Its limit orders provide an innovative, flexible order swap for DeFi. Among other features, the conditional order, dynamic pricing and trailing stop order are significant.
1inch token is the governance token for 1inch Network that reached a $439,483,317 market cap based on the press time price action. Currently, there are 570,748,350.91 1INCH in circulation from 1,500,000,000 maximum circulation. In the last 24 hours, this token showed a trading volume of $97,240,584, 28% down from the previous day.
Let’s see the 1inch Price Forecast from the 1inch Price Prediction today:
1INCHUSD Moves Higher From The Daily Demand Zone
The 1inch price lost 74% of its value from the April 2022 peak, where the selling pressure came from the broader crypto market crash due to higher interest rates and the fear of inflation. However, the lower price with a strong bullish trading volume would be the primary sign for a buy signal.
This technical analysis represents how the current demand zone is available at 0.600 to 0.515 are from where the latest buying pressure came. Moreover, bulls from the demand zone made a bullish break of structure above the 0.776 resistance level, indicating that they are interested in taking the price up towards the 1.052 level.
The indicator window shows how RSI Oscillator moves above the 50 level with an opportunity to reach the overbought 70 level. In that case, any minor bearish correction towards the 20-day moving average with a strong bullish recovery might extend the buying pressure in the coming days.
In 1inch Network Price Prediction, the price showed buying pressure from the daily demand zone, but the broader market trend is still bearish. In that case, the current buying pressure may extend towards the 1.052 level from where bears may rejoin again. On the contrary, if the price moves below the 20-day MA, it might increase the selling possibility in the price where the ultimate target would be testing the 0.4000 level.
1INCHUSD Ichimoku Cloud Analysis
Strong corrective price action is present in the 1INCHUSD H4 chart, where the current price trades above the Kumo Cloud. Although the price was corrective, the recent buying pressure above the dynamic Kijun Sen indicated a long opportunity in the H4 chart. In the future cloud zone, the Senkou Span A is way above the Senkou Span B, showing a strong bullish trend for the coming hours.
In the indicator window, a unique tool known as the traders' dynamic index (TDI) shows how the buying pressure has reached the upper zone. It represents a story that bulls have reached their peak and should calm down by taking the price on the sellers’ side. In that case, the bullish momentum is solid as long as the TDI level remains above the 50% zone.
According to the 1inch forecast, the upcoming price trend will be bullish if any strong bullish rejection is seen from 0.744 to 0.677 area. In that case, the conservative trading approach is to wait for an H4 candle above the Tenkan Sen level to aim for the 1.017 resistance level. However, 0.677 would be the ultimate barrier for sellers where an H4 candle below the 0.650 area could open a bearish opportunity.
1INCHUSD Intraday Price Action Analysis
In the H4 price chart, the volume structure is supportive for bulls as the visible range trading volume is below the current price with further confluence support from dynamic 20-day EMA and weekly VWAP.
In the intraday high volume level, the latest strong trading volume was found at 0.774 level, below the current price. Moreover, the buying momentum is backed by the strong visible range volume at the 0.698 level. Therefore, the primary aim for this token is to go long as long as the price trades above the 0.698 level.
Based on the current price behaviour, a minor bearish correction may appear towards the dynamic 20 EMA from where a bullish rejection candle might extend the bullish opportunity in the coming days. On the other hand, any selling pressure below the 0.677 key support level may drag the price down towards the 0.515 area.
Is 1inch Network (1INCH) A Sell?
According to the 1inch Price Prediction, the broader market context is still bearish for this pair where a minor bullish correction is pending. In that case, investors should find the price with a strong bullish rejection candlestick from the H4 chart to find a reliable trading opportunity.