1INCH has been on a skid since its last ATH on the 8th of May. But where it has stopped moving down has been at the exact save level that it has repeatedly tested since the end of April. Therefore, this looks like a good entry point.
If we take a look at the 1 hour chart we can see that the RSI has swung back in a positive direction. The MACD crossing the signal line would be more bullish confirmation.
If 1INCH is turning around it should easily be able to make back its previous losses and go up 30%, back to its .618 level.
I'm hesitant to think that 1INCH will make a new ATH here just because all of the negative BTC press from yesterday. Should that continue, we might have a few more red days in the market.
However, 1INCH is a solid project with good fundamentals that, I believe, is undervalued. This would be a good price to get in if you're looking for a good good DEX
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Trade at your own risk.
If we take a look at the 1 hour chart we can see that the RSI has swung back in a positive direction. The MACD crossing the signal line would be more bullish confirmation.
If 1INCH is turning around it should easily be able to make back its previous losses and go up 30%, back to its .618 level.
I'm hesitant to think that 1INCH will make a new ATH here just because all of the negative BTC press from yesterday. Should that continue, we might have a few more red days in the market.
However, 1INCH is a solid project with good fundamentals that, I believe, is undervalued. This would be a good price to get in if you're looking for a good good DEX
Please like, comment, and follow for more!
Trade at your own risk.
