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The 1INCHUSDT market has posted moderate gains as of the time of writing. The token’s price has moved up by 4.30%. However, the question of whether this trend will continue and how far it may proceed lies in a critical analysis of the token’s price action. Therefore, let’s take a closer look at the 1inch market.
1inch Statistics:
Current 1inch Value: $0.4219
1INCH Market Cap: $479.1 million
1INCH Circulating Supply: 1.14 billion
1inch Total Supply: 1.5 billion
1inch CoinMarketCap Rank: 116
Key Price Levels:
Resistance: $0.4219, $0.4300, and $0.4400
Support: $0.4200, $0.4100, and $0.4000
1INCHUSDT Marches on After Flirting with the Fibonacci Retracement Level 50
Looking at the 1INCHUSDT daily market, it could be seen that price activity in this market has spent some time around the Fibonacci Retracement Level 50. While price action has risen past the 50 Fibonacci level two sessions ago, the ongoing session has pushed price action further upwards.
As a result, the token now trades above the two sets of the Guppy Multiple Moving Average (GMMA). Likewise, the Stochastic Relative Strength Index (SRS) lines have delivered a steeper upside crossover while in the overbought region. However, the lines of this indicator are now near the 100 level of the indicator. Consequently, this seems to impose a limiting effect on how far the price of the 1INCH token may rise.
1inch Shows Upside Determinations
Coming down to a 1INCHUSDT market of 4 hours, it could be seen that buyers seem to have continued buying at the psychological level of $0.4200. This has put the bulls forward in the ongoing session. Also, it has further advanced the market above the crossed sets of the GMMA indicator lines. In addition, the SRSI indicator remains consistent with a bullish crossover in the overbought region.
Consequently, the indications both on the daily and the 4-hour time frame agree. As a result, traders in this market can maintain a crypto signals with targets around the $0.4350 mark to be on the safer side.
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