1INCH NETWORK Price Analysis: Bears Not Ready To Give Up Dominance

  • The daily price chart called for the bulls to hold the price down 1 inch, which was down sharply.
  • The indicators return to the side of the bears after the dispersion of the accumulation of the bulls.
  • The 1INCH/BTC pair is at 0.00003157 BTC, a loss of 3.39%.

The 1 inch price experiencing a strong downward trending move called for bulls to openly support the daily price chart. The INCH bulls tried to pump the price up but the efforts were not enough to push the token price up. The bears who were already dominating made it clear to the bulls again.

They not only destroyed the rally but also pushed the price to the bottom on the daily price chart. These bears dispersed the efforts of the INCH bulls and have now pushed the price lower on the daily price chart. Trading volume is falling and needs to be recovered because without it it is difficult to drive prices up. Investors should wait as the bears recapture the market and do not allow the bulls to grow the market.

The current price of an INCH token is moving at $0.66, representing a significant loss of 4.96% of its market capitalization in the last 24 hours. The token has a trading volume of 41 million, a negligible loss of 10.51% in the 24-hour trading session and a market capitalization of 386 million. The market capitalization ratio by volume is 0.1075.

1INCH calls its bulls

The 1 inch price is collapsing on all time horizons and the bearish dominance is not letting the bulls pump the price. The bears caused the price to fall by around 27% in 10 days.

The MACD which started showing shifts in favor of the bulls is now back on the bearish side as the sellers signal line moves above the buyers line and the histograms turn red again. The relative strength index indicates the increasing selling pressure and the token is approaching oversold. The RSI value drops below 40.

Conclusion

The 1 inch price experiencing a strong downward trending move called for bulls to openly support the daily price chart. These bears dispersed the efforts of the INCH bulls and have now pushed the price lower on the daily price chart. The technical indicators once again indicate bearish dominance and show that the token is calling its bulls to save the token.

Technical levels

Resistance levels: $0.71 and $0.77

Support levels: $0.60 and $0.54

Disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only, and they do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.