The 1INCH/USDT Market Shines

The 1INCHUSDT market has seen a price increase of 7.44% over the past 24 hours. Nevertheless, there are signs that suggest downward forces are still trying to exert pressure in this market. Let’s take a closer look at the market below.

1inch Statistics

Current Price: $0.1937

Market Capitalization: $272.86M

Circulating Supply: 1.34B

Total Supply: 1.4B

CoinMarketCap Rank: 146

Key Levels

Resistance: $0.2000, $0.2500, $0.3000

Support: $0.1900, $0.1800, $0.1700

1inch Hugs a Key Landmark

Looking at the 1INCHUSDT market on a daily chart, it is evident that price action is in the green. The current session is represented by a green price candle but has a downward contraction, leaving it with a long upper shadow.

The lines of the Stochastic Relative Strength Index (SRSI) indicator have delivered an upside crossover just above the 50 mark. Despite the downward contraction, this suggests that upside forces are still in the lead.

1INCHUSDT May Hold on to a Promising Base

While the 1inch market continues to witness moderate bearish pressure, it can be observed that price action stands above a key technical level. The ongoing session is represented by a red price candle.

Nevertheless, it stands at a distance above the 9-day EMA line. Due to this, the lines of the SRSI indicator have risen into the overbought region of the indicator. The lead line has a slight deflection towards the side, but the lines stand above the 80 mark. Therefore, the market can still rise past the $0.2000 mark shortly. Given this setup, traders may consider setting their next target at the $30 price level.

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