1INCH Price Analysis: Have the Bears Overwhelmed the Bulls?

• The price of 1INCH is trading near $0.2593, The 24-hour trading volume was $12.49 million.

• The 1INCH price is observing a fall of -1.21% in the last 24 hours.
• The 1INCH year-to-date return is -32.74%.

The 1INCH coin was launched in May 2019. The 1INCH token is the utility and administration token of the 1inch convention and 1INCH can be utilized for investing, holding, staking, or sending.

As the platform’s administration token, 1INCH token holders can vote on and propose upgrades to the 1inch convention, such as how expenses are organized and conveyed over stage clients.

Trend Analysis

By considering trend & price information history, we can say that 1INCH is in a downtrend. The price has declined -17.56% within the past seven days and it can be said that 1INCH is underperforming presently.

1INCH Trading Downwards

Technical Analysis (1D Timeframe)

1INCH Price Analysis

EMA:

The 1INCH price is currently below the 20 and 50 EMAs, which indicates that the price will decline in the future. If sellers continue to lower the price, it could drop further in a week. So, selling is suggested.

200EMA:

The price of 1INCH at present is trading below 100 and 200 EMA which suggests the price could fall shortly. If the sellers continue to push the price downwards, it could fall more in its value within a week. Hence, indicating sell.

MACD:

In this case, the MACD line is at -0.0397 and the signal line is at -0.0336. Both are on the negative side and are giving bearish signals below the zero line.

Also, when the signal line gets cut by the MACD line from below, the indicator is considered bullish. Likewise, when the signal line gets cut by the MACD line from above, the indicator is considered bearish. In this case, The MACD line crosses from above to below the signal line and the indicator is considered bearish. Hence, indicating sell.

RSI:

The Relative Strength Index shows whether a cryptocurrency is oversold when the RSI line is below 30 and also whether a cryptocurrency is overbought when the RSI line is above 70.

The RSI line has been moving in the oversold territory for the past few days. The 14 SMA has a value of 25.11 points and the RSI line is around 18.77. This indicates that the 1INCH market is in the oversold zone.

Stoch RSI:

The Stochastic RSI fluctuates between 0 to 100. With readings below 20, it is considered oversold and those above 80 reflect overbought conditions. The current %d line is at 2.16 and the %k line is at 1.07. This indicates that 1INCH is in an oversold zone.

Trendline Analysis:

As per the Trendline, it seems it’s respecting the Trendline. For now,  it’s declining from the trendline but can go downwards shortly. So, the price of 1INCH can continue to fall or consolidate within the trendlines range.

Conclusion

According to the analysis, The indicators are supporting the bears. If the price continues to move under the seller’s control, it is expected to fall more.  It can also consolidate at the current levels. Presently, the sentiments of the investors and traders are bearish regarding the price of 1INCH in the 1D timeframe.

Technical Levels:

• The Nearest Support Zone  – $0.2319 then $0.2137
• The Nearest Resistance Zone – is $0.3108 then $0.0.3407

Disclaimer

In this article, The views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.