1 Inch Crypto Price Prediction – Could This be the Year?

The 1-inch network is a decentralized exchange aggregator that sources liquidity from a variety of DEXes and wraps it in a single, easy-to-use platform. In other words, 1inch lets you trade on multiple decentralized exchanges at once, without having to worry about transferring your tokens between wallets. In this 1Inch Crypto Price Prediction, we will discuss what the future holds for the token in the coming months.

1Inch Crypto Price Prediction

The 1-inch network is powered by the 1INCH token, which is used to pay transaction fees on the platform. Holders of the 1INCH token also earn rewards for providing liquidity to the network. The project was built on the Ethereum blockchain and launched in May 2019. The platform provides access to lots of services including the 1Inch wallet, 1Inch protocols, and an extensive earn program.

Technical Analysis

The 1INCH/USDT chart shows a series of uptrends and downtrends in the 1-inch price cycle. The current price of 1INCH is $0.657 and it is currently trading below the 100 EMA. This shows that the market is in a bearish phase. The MACD and RSI are also showing signs of bearishness as the price chart maintains its steady decline.

There are multiple rejections of the moving average which is a key resistance area. The price needs to break out of this area for a sustained move higher. The market structure is also in favor of the bears as the price is making lower highs and lower lows.

The key support levels to watch out for are $0.40 and $0.30. These are the areas where buyers are likely to step in and push the price higher. On the upside, the key resistance levels are $1.50, $2.00, and $3.0. At the moment, 1 inch is likely to trade lower to $0.5 as it’s showing signs of rejection on multiple time frames.

Fundamental Analysis

The 1-inch project has seen some major partnerships in recent months. These partnerships include Binance, Kyber Network, Polygon, and Metamask. This shows that there is increasing interest in the project from some of the biggest names in the crypto space.

The 1INCH token is currently listed on a number of exchanges including the Binance exchange. This gives the token a good level of liquidity.

1 inch has a market cap of $381M with a circulating supply of $581M. These are both healthy levels which show that there is good interest in the project. Overall, 1-inch has a solid use case and could see some good growth in the coming months. However, the current market sentiment is bearish as investors wait for more evidence supporting the broader adoption of the token.

Final Thoughts 

The 1INCH token has seen some volatile price action in recent months. However, the overall trend is still bullish as the price remains above the key support levels. The fundamentals of the project are also strong with a number of partnerships and listings on major exchanges. We believe that the 1INCH token has good long-term potential and expect to see further price gains in the coming months.

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