1INCH - 140+ day accumulation rally to break soon? - update
Taking another look at 1INCH after my recent post about the inv' head and shoulder pattern developing within a strong ranging 140+ day accumulation area, with very positive prospects of explosive upside if the 3.82 neckline is broken. Recently 1INCH broke the global trend with a strong bullish candle before seeing a strong sell off back down to the 3.0 range. The daily candle closed above the trend on the retest and we are now seeing positive growth again. Looking for a break above the near-term resistance of 3.36 marked in orange before a move up toward the neckline.
OBV has been trending constantly up on both the daily and the weekly confirming the accumulation and building volume pressure despite the ranging price. MACD is healthy and bullish trend is trading above 0. 10, 20 and 50 MA on the daily are stacking up neatly with the 20 soon to cross the 50 and hopefully signal a bullish continuation. Worth keeping on your watch list. Optimistically, potential mid-term 100% profit target if neckline breaks. Near-term targets marked on chart
I have been accumulating a position on 1INCH from the 2.5 range and will continue to add to this with each pull back to the 2.8-3 range. If we trade below the 2.5 I will halve my position and look elsewhere until 1INCH either bottoms again around the 1.6 or shows new signs of strength
If it wasn't for its logo I would probably be more committed to this token!
OBV has been trending constantly up on both the daily and the weekly confirming the accumulation and building volume pressure despite the ranging price. MACD is healthy and bullish trend is trading above 0. 10, 20 and 50 MA on the daily are stacking up neatly with the 20 soon to cross the 50 and hopefully signal a bullish continuation. Worth keeping on your watch list. Optimistically, potential mid-term 100% profit target if neckline breaks. Near-term targets marked on chart
I have been accumulating a position on 1INCH from the 2.5 range and will continue to add to this with each pull back to the 2.8-3 range. If we trade below the 2.5 I will halve my position and look elsewhere until 1INCH either bottoms again around the 1.6 or shows new signs of strength
If it wasn't for its logo I would probably be more committed to this token!
Comment:
Watch 1INCH, moving against the market. Will likely see a strong move if we hold
Comment:
1INCH 20,50 MA bullish cross, MA's now stacked bullishly ready for move up. Key resistance level (in orange) taken out after global trend break. Has been moving against the market when everything turned down, clear sign of market interest. OBV is trending bullish for the past 140+ days. Waiting for BTC to settle then watching for a further strong move up to Marco neckline (red) and then up
1INCH 20,50 MA bullish cross, MA's now stacked bullishly ready for move up. Key resistance level (in orange) taken out after global trend break. Has been moving against the market when everything turned down, clear sign of market interest. OBV is trending bullish for the past 140+ days. Waiting for BTC to settle then watching for a further strong move up to Marco neckline (red) and then up
