1inch Network’s native token 1INCH might surge past the psychological level at $3 soon after the alt saw a 10% price increase within the past 24 hours.
The global crypto market recorded a lucrative performance this week. Most digital coins have gained over 2% within the past 24 hours. 1INCH is among the token that rose with double-digits since the past day.
1INCH Gains 10% within 24 Hours
The overall crypto space displayed slugging performance early on the month, with BTC temporarily crashing beneath the $40,000. However, this week has seen most assets on bullish waves.
While publishing this article, Bitcoin trades beyond the $43,000 mark, following a 2% surge within the past day. Ether has witnessed positive moves over the past hours, bulls eyeing the vital mark at $3,500. Nevertheless, 1ichin Network’s native coin 1INCH is today’s top former.
1INCH currently trades past the $2.3 mark after gaining more than 10% over the last 24 hours. There’s no catalyst backing the upward move besides the broad market recovery. The bullish sentiment in the overall crypto space had most assets recovering from the losses incurred over the last few days.
The global crypto market capitalization dropped beneath $2 trillion early on the week. Nonetheless, it reflects the current positive outlook as it eyed $2.1 trillion in the coming session. However, that may require steady upside by the assets in the upcoming days and hours.
1INCH Might Hit $3.0 Soon
1inchi token’s technical indicators show the coin recovering from the latest bearish dominance. Technical indicators will shift to the positive region soon if the asset sustains the current upsurge, its
The Moving Average Convergence line remains beneath the neutral zone but might jump into the positive area. Meanwhile, the Relative Strength index at 50 indicates 1INCH is out of oversold conditions. If bullishness persists, 1INCH might soon encounter increased buying momentum from the crypto market.
While publishing this blog, 1INCH remains beneath the 50-day MA of $2.67. The token might break above the 50-day exponential momentum average soon. That is when the current market conditions remain unchanged. Extended bullishness will see 1INCH hitting the second vital resistance at $3.23 before the day’s end.
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