The price is inside a descending channel and the market is testing the the demand zone on 0.58$ area.
The price needs to grab new liquidity and create a clear breakout from the 0.6$ area.
How to approach it?
IF the price is going to have a breakout and retest the 0.6 area as new support, According to Plancton's strategy , we can set a nice order
Pattern: Falling Wedge
TP 1: $0.616683
TP 2: $0.642395
TP 3: $0.668035
1INCH is breakout out of falling wedge.
Can enter now and DCA or wait for the price to move in to the red area around $0.584915 for retest of breakout.
Grayscale expressed concerns over the potential impact on the Ethereum Merge, especially on tokens that run natively on Ethereum:
The Merge may lead to a fork that might have unexpected and unfavorable outcomes and a scenario where stablecoins and tokens locked in smart contracts might not be redeemable.
Token and stablecoin holders might panic and start...
Based on technical factors there is a Long position in :
🔵 Long Now 0.612
🧯 Stop loss 0.525
🏹 Target 1 0.688
🏹 Target 2 0.777
🏹 Target 3 0.888
💸Capital : 1%
We hope it is profitable for you ❤️
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At the moment 1inch is performing a beautiful falling wedge running into support, a breakout of the falling wedge could result in 20% profit in the short term.
I believe that 1INCH has a lot of work to do before we see a complete double bottom.
I could imagine a breakout and then a retest of this same level putting in a last double bottom, givin us a bigger...