- 1inch Network (1INCH) defies bearish trend with over 12% surge.
- Crypto market capitalization declines slightly to $1.21 trillion.
- 1INCH experiences significant surge, weekly gain of +21.99% and monthly growth of over 40%.
According to CoinMarketCap, the leading crypto market tracking website, 1inch Network (1INCH) experienced a notable surge of over 12% in its price, defying the prevailing bearish trend observed across most cryptocurrencies. Furthermore, the overall market capitalization of the crypto industry witnessed a slight decline of 0.26% during the last 24 hours of trading, resulting in a total valuation of $1.21 trillion.
As of the current press time, the trading price of 1INCH stood at $0.3723, indicating its proximity to the daily high of $0.3787 rather than the 24-hour low of $0.3331. Additionally, the trading volume of 1INCH experienced a remarkable surge of over 300% in the past day, reaching approximately $89,3996,453.
1INCH has experienced a significant surge in the last 24 hours, enhancing its weekly performance to a remarkable +21.99% gain. Moreover, this altcoin has also witnessed a substantial monthly growth of over 40%.
In the last 24 hours, 1INCH successfully surpassed the resistance levels at $0.3375 and $0.3539, effectively transforming them into support levels. The altcoin is poised to confront the subsequent resistance at $0.3756. Nevertheless, bears actively assert their control and safeguard this crucial price level.
Market participants in cryptocurrency should pay attention to a recent development on 1INCH’s 3-hour chart. A bearish candlestick pattern, known as a bearish hammer, has emerged over the last 3 hours. This formation indicates that the price of 1INCH may be reaching a peak. Should this bearish candlestick pattern be confirmed, 1INCH’s price will likely experience a decline within the next 6-12 hours.
Alternatively, if the bearish candlestick fails to confirm, 1INCH’s price can surpass the resistance level at $0.3756 and potentially reach a higher level of $0.3987 within 24 hours. To validate this bullish scenario, it would be crucial for the crypto currency’s price to sustain a 3-hour candle closing above $0.3756 in the upcoming 24 hours.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
