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1Inch (1INCH) pulls back after a 24
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简介As the crypto market shows some bullish signs today, 1Inch (1INCH) had posted impressive gains in 24...
As the crypto market shows some bullish signs today, 1Inch (1INCH) had posted impressive gains in 24-hour intraday trading. But those gains have pulled back. The coin was under a lot of pressure in recent weeks. It seemed for a moment things were finally looking up. But how far can today’s rally go? Here is what you need to know first:
1INCH still remains bearish despite the recent surge in the price.
The coin has lost 85% from its all-time highs too.
At the time of writing, 1INCH was trading at around $1.49
Data Source: Tradingview
1Inch (1INCH) – Predictions and analysis
It's not that long ago when 1INCH was hitting an all-time high of $8.29. This in fact happened at the end of 2021, and there was a lot of hope that 2022 could be huge. But things have not really taken off. 1INCH has now tanked, and at one point, it was just hovering around $1.
But there are signs things may start to turn. First, the coin has managed to cross over a crucial overhead resistance of $1.39. 1INCH has consolidated above that price and is now trying to trigger sufficient demand for a bullish break. But we do not see enough upside right now to push the token above $3.
It will take time before those $8.39 highs are repeated. But in the short term, 1INCH could still hit $3 before it pulls back once more.
What is the value of 1Inch Network (1INCH)?
1Inch Network (1INCH) is a network that hopes to create a collection of fast-growing decentralized protocols. The aim is to provide a robust infrastructure where people or organizations can launch innovative blockchain solutions.
The project has received a lot of investment and still has some potential to deliver real gains in the long run. It currently has a market cap of around $600 million.
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