1INCH, a well-known DeFi aggregator token, has been under consistent selling pressure, currently down over 5% in the past 24 hours. After failing to hold above $0.2956, the price has retraced toward the lower end of its recent range, approaching areas where buyers previously stepped in.
๐ Technical Analysis
On the 4H chart, the short-term trend remains bearish. Immediate support is at $0.2778, with stronger historical support around $0.2592 and the recent swing low at $0.2321. Resistance levels to watch are $0.2956 and $0.3294. The RSI is at 29.57, indicating oversold territory, which could trigger a short-term bounce. MA(5) is still under pressure despite being above MA(10), showing a lack of sustained momentum. Volume has been relatively muted compared to past spikes, suggesting cautious market participation.
๐ฐ Market Data & News
Current Price: $0.2796 (-5.35% 24h)
24h Range: $0.2778 โ $0.2956
Volume (24h): 23.07M 1INCH
No major news releases today, but broader market weakness in DeFi tokens may be influencing price action.
๐ Scenario Breakdown
Bullish Case: A bounce from the oversold RSI with strong buy volume could retest $0.2956, and if broken, open the path toward $0.3294.
Bearish Case: A breakdown below $0.2778 could see the price revisit $0.2592 or even $0.2321, especially if selling accelerates in the broader DeFi market.
๐ Sentiment Meter: ๐ Bearish Bias โ Sellers dominate, RSI oversold but no reversal yet
โ ๏ธ Risk Level: ๐ก Medium โ Oversold, but bearish trend still intact
๐ฌ Will 1INCH bounce from $0.2778 or head for $0.2592? Drop your take below ๐
๐ Drop your chart view below ๐
๐ Comment your bias: Bullish or Bearish?
โค๏ธ Like ๐ | Share ๐ค | Follow ๐ @The_Crypto_Malik for daily 4H insights
#1INCH #CryptoAnalysis #BinanceSquare #DeFi #TechnicalAnalysis #BinanceTurns8
๐ข Not financial advice. Always DYOR and manage your risk.