<strong><em>1INCH price action shows a remarkable recovery rally surpassing the resistance trendline. Will the recovery rally surpass $0.80?</em></strong>

<strong>Key technical points:</strong>
<ul>
 	<li>The 1INCH market price has increased 22.45% over the past 24 hours.</li>
 	<li>The price action shows a resistance trendline breakout.</li>
 	<li>The 24-hour trading volume of 1INCH Network is $206 Million, indicating a hike of 350%.</li>
</ul>
<h2><strong>Past Performance of 1INCH</strong></h2>
<a href="https://www.cryptoknowmics.com/news/1inch-network-price-prediction-2022-2026-will-the-price-of-1inch-hit-2-12-by-the-end-of-2022/">1INCH</a> prices have been steadily declining due to an extremely bearish resistance trendline in the daily chart. The bearish fall in price pushed the altcoin towards a low of $0.53 and accounted for a 73% decline in value since April. But, following a rebound from the psychological threshold of $0.53 and a market price that rises by 30%, it is able to surpass the resistance trendline.

<img src="https://s3.tradingview.com/snapshots/f/fhomHeGP.png" alt="TradingView Chart" />

<strong>Source-</strong> <a href="https://www.tradingview.com/x/fhomHeGP/" target="_blank" rel="noopener">Tradingview</a>
<h2>1INCH Technical Analysis</h2>
1INCH price action forms a bullish engulfing candlestick yesterday resulting in the trendline breakout with a boom in trading volume. Hence, traders can expect the breakout rally to reach the overhead resistance at $0.80. The altcoin prices have been trading lower with the 20 and 10-DMA providing dynamic resistance. But, the recent rise surpasses the 10-DMA and is preparing to take on the 20-DMA.

The daily-RSI slope spikes from the oversold zone to approach the halfway line and surpass the 14-day SMA, reflecting a boom in the underlying bullishness. Hence, the indicator adds points to the breakout rally reaching the $1 mark. The MACD and signal lines display a turnaround in the bearish trend showing a crossover and recovering the bullish alignment. Moreover, the reversal renews the bullish trend in the MACD histograms indicating a surge in buying pressure. In a nutshell, the 1INCH technical analysis forecasts a bullish breakout trend reaching the overhead psychological resistance mark at $1.
<h2>Upcoming Trend</h2>
If the buying pressure continues, 1INCH prices will avoid a retest and continue to soar above $0.80. Traders can expect the breakout rally to reach the psychological mark of $1.

<strong>Resistance Levels:</strong> $0.80 and $1

<strong>Support Levels:</strong> $0.60 and $0.50

1INCH Technical Analysis: High Momentum Recovery Eyes $0.80

1INCH Technical Analysis shows a remarkable recovery rally surpassing the resistance trendline. Will the recovery rally surpass $0.80?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

1INCH Technical Analysis: High Momentum Recovery Eyes $0.80

Top Picks