Hello Binance Square family! 👋
Let's dive into the latest daily chart analysis for 1INCH/USDT. 📊
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🔍 Technical outlook
Current price: $0.2366
Resistance levels: $0.250, $0.300
Support levels: $0.230, $0.200
The price is currently testing a major resistance area around $0.250. A breakout above this level may indicate a continuation of the upward trend.
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📈 Price prediction
If the breakout occurs, the next resistance levels to watch are $0.300 and $0.350. Conversely, if the price fails to break above $0.250, it may retest support levels at $0.230 and $0.200.
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🧠 Trading strategy
Bullish scenario: Open buy positions above $0.250 with targets at $0.300 and $0.350.
Bearish scenario: Consider opening sell positions if the price drops below $0.230, targeting $0.200.
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⚠️ Risk management
Always use stop-loss orders to manage risk effectively. Consider placing stop-loss orders below key support levels to protect your investments.
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📅 Long-term forecast
Analysts expect the price of 1INCH to reach an average price of $0.72 by 2025, with potential highs of $0.87. In the long term, prices could rise to $1.46 by 2031.
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Stay tuned for more updates, and trade happily! 🚀📈
*Note: This analysis is for informational purposes only and does not constitute financial advice.*
