1inch has had a memorable July with a growth of 85%. However, is this the time to prepare for a correction?

First of all, we need to consider a few factors. Firstly, the price of 1inch has broken through a significant resistance level at $0.25 and is currently trading around $0.34 ¹. This indicates that the bullish trend is strong.

However, there are also some signs suggesting that 1inch may be in the overbought zone. The RSI index on the daily chart is in the overbought area, which is an early sign for a short-term bearish scenario ².

Additionally, data from Santiment also shows that holders are actively taking profits. The average age of the coin has maintained a stable upward trend from February to June, but in July, the index dropped sharply ².

In summary, although 1inch has had a strong growth month in July, there are also some signs indicating that it may be in the overbought zone and needs to prepare for a correction. Traders need to closely monitor the market and make smart investment decisions.