1INCH — The Last Firewall Before All-Time Low 🚨
1INCH has been one of the most disappointing coins in the past few years. It reached an incredible high of nearly $8 in 2021 before it completely collapsed. Currently, 1INCH is trading at 26 cents ‼️
Moreover, the coin has printed a consecutive bearish pattern. Recently, it broke below the neckline of the head and shoulders pattern. As a result, the coin has dropped another 25% to its current level.
The level between 23 and 25 cents represents the last firewall before 1INCH is sent to its all-time low. The coin has been here before. In late 2023, 1INCH consolidated in this area before recovering to 70 cents.
Therefore, I will be keeping a close eye on this level. If it holds and we enter a bull market phase, 1INCH could reverse from here and rally. Since the token has proven that it can still move quickly towards $1, the current level represents an interesting accumulation zone.
On the other hand, a break below the firewall would eventually take 1INCH to a new all-time low and possibly much lower.
