This is an update from my previous TA, see link below.
Looks like 1INCH is consolidating and building up for a run. If it holds the support we might see it follow the 20MA in an uptrend and you can consider a long position. If it breaks below, it may test the support area and breakdown even further.
Trade safely.
Looks like 1INCH is consolidating and building up for a run. If it holds the support we might see it follow the 20MA in an uptrend and you can consider a long position. If it breaks below, it may test the support area and breakdown even further.
Trade safely.
Comment:
It is currently nearing the support area. If it hits similar price levels from the previous candles (~1.03) in the support area we need to see if it bounces back up again. Further breakdown could lead to lower prices and this chart is invalidated.
Comment:
Support area has broken, chart is invalidated.
