As Bullish Power Grows, 1INCH Indicators Cast Doubt on Bear Hold
- Due to the bulls’ hesitation, the bears seize the 1INCH market.
- Bulls’ efforts have raised the price to an intra-day high of $0.5697 in the previous 24 hours.
- Indicators suggest that bullish power will increase shortly.
Over the past 24 hours, the market price of 1inch Network (1INCH) has been relatively rangebound between the levels of $0.5406 and $0.5697 due to the dominance of bearish sentiment. As of this writing, 1INCH has dropped 1.66%, to $0.5568, due to this bearish sentiment.
Fearing a price drop, traders exited the market, reducing market capitalization and 24-hour trading volume by 1.44% to $441,730,352 and 14.32% to $46,239,156, respectively. Despite dropping, 1INCH is still trading above its $0.5406 support level.
With the upper Keltner Channel band sitting at 0.574 and the lower bar at 0.529 on the 4-hour price chart, traders will likely be on the lookout for a break above the 0.574 level to signal a continuation of the bullish trend and an opportunity to enter long positions. A green candlestick forming and a price movement above the 0.549 middle bands might signal to traders that a ch…
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