<strong><em>1INCH prices action shows the sellers at $0.80 resisting the bullish growth despite the recent trendline breakout. Will the recovery rally reach $1?</em></strong>

<strong>Key technical points:</strong>
<ul>
 	<li>The 1INCH market price has decreased by 2.86% over the past 24 hours.</li>
 	<li>The price action shows the trendline breakout rally struggling to rise above $0.80.</li>
 	<li>The 24-hour trading volume of 1inch Network is $208 Million, indicating a rise of 124%.</li>
</ul>
<h2>Past Performance of 1INCH</h2>
<a href="https://coincodex.com/crypto/1inch/">1INCH price</a> action showcased a long-term correction phase under a highly bearish resistance trendline accounting for a downfall of 72%. The downtrend depleted the market value from the heights of $2 to the depth of $0.55. However, the recovery rally from $0.55 beats the selling pressure of the resistance trendline but the sellers trap the bullish growth at $0.80.

<img src="https://s3.tradingview.com/snapshots/k/kMmH9sO1.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/kMmH9sO1/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">1INCH Technical Analysis </span></h2>
The higher price rejection led to a morning star pattern in the <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> price action near the $0.80 mark. The bullish recovery last night helps the daily candle retest the overhead resistance but the selling pressure resurges today teasing a reversal. Hence, traders hoping for a bullish breakout must wait for the price action confirmation coming with a candle closing above $0.80. In terms of the technical indicators, the DMI displays the DI lines struggling to maintain a bullish alignment after the recent crossover. It is evident by the recent fall in bullish spread displaying the bearish attempt to sabotage the positive alignment.

However, the MACD and signal lines maintain a bullish alignment and a positive trend to cross above the zero line. Moreover, the rising trend in the bullish histograms reflects growth in buying pressure and adds points to the breakout possibility. The RSI indicator goes sideways near the halfway line maintaining a neutral side during this volatile market. In short, the technical indicators maintain an overall bullish viewpoint for the upcoming trend in 1INCH prices.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
If 1INCH prices rise above the $0.80 mark, the breakout rally is likely to surpass the $1 mark and test the $1.10 mark. However, a reversal to $0.50 remains possible if buyers fail to rise above $0.80.

<strong>Resistance Levels:</strong> $0.80 and $1

<strong>Support Levels:</strong> $0.65 and $0.50

1INCH Technical Analysis: Will The Breakout Rally Reach $1?

1INCH Technical Analysis shows the sellers at $0.80 resisting the bullish growth despite the recent trendline breakout. Will the recovery rally reach $1?

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: Will The Breakout Rally Reach $1?

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