In this 1inch technical analysis, we will examine the current price action, trading volume, key levels and indicators for 1INCH-BTC. 1inch is a decentralized exchange (DEX) built on the Ethereum blockchain that enables users to trade a wide variety of assets directly from their own wallets without relying on intermediaries. The platform utilizes advanced algorithms and liquidity pools to provide users with the best possible prices and a seamless trading experience. With its innovative approach to decentralized finance (DeFi), 1inch is revolutionizing the way we think about trading cryptocurrencies.
1inch Price Overview:
As of May 11, 2024, 1inch is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for 1INCH-BTC:
| Metric | Value |
|---|---|
| Open (O) | 1e-05 |
| High (H) | 1e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 32,448.60 |
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): 1inch reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for 1INCH-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, 1inch is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.34% |
| 3D Change (%) | -0.67% |
| 7D Change (%) | -1.81% |
| 30D Change (%) | -24.17% |
| 90D Change (%) | -31.73% |
| YTD Change (%) | -41.11% |
Over the past three days, 1INCHBTC has dropped by approximately -0.67%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -1.81%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with 1INCHBTC maintaining a downward trend of approximately -24.17%, despite intermittent fluctuations. Examining the last 90 days, 1INCHBTC has witnessed substantial drop of approximately -31.73%, reflecting strong long-term confidence. Year-to-date, 1INCHBTC has steadily dropped by around -41.11%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
1inch Live Chart:
You can access a live price chart for 1INCH-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.26098.
- Momentum score is -0.12353.
1INCH BTC Technical Analysis
1inch Trading Volume:
The trading volume for 1inch (1INCH) over the past 24 hours has been insignificant, with approximately 32,448.60 BTC traded against 1INCH. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): 1INCH is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): 1inch is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for 1INCH-BTC is currently in the low zone, around 36.78354. This suggests that 1inch is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
1inch (1INCH-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Acknowledge potential headwinds for 1inch (1INCHBTC) at 5.96e-06 BTC through bearish technical analysis, featuring weakened support and cautionary indicators.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.