1inch Price Prediction 2022— Will 1INCH Hit $8 Soon?
-
- Bullish 1INCH price prediction is $1.92 to $7.87.
- The 1INCH price will also reach $8 soon.
- 1INCH bearish market price prediction for 2022 is $1.174.
In 1inch’s (1INCH) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about 1INCH to analyze the future movement of the cryptocurrency.
1inch Current Market Status
According to CoinGecko, the price of 1INCH is $1.60 with a 24-hour trading volume of $58,094,458 at the time of writing. However, 1INCH has decreased nearly 0.2% in the last 24 hours.
Moreover, 1INCH has a circulating supply of 413,777,775 1INCH. Currently, 1INCH trades in cryptocurrency exchanges such as Binance, OKX, Hotcoin Global, CoinTiger, and Bybit.
What is 1inch (1INCH)?
The 1inch Network unites decentralized protocols whose synergy enables the most lucrative, fastest, and protected operations in the DeFi space. The 1inch Liquidity Protocol is a next-generation automated market maker (AMM) that protects users from front-running attacks and offers attractive opportunities to liquidity providers. 1inch is non-custodial, and all trades take place within one transaction from a user’s wallet on any of the supported blockchain and layer-2 networks.
1inch (1INCH) Price Prediction 2022
1inch holds the 127th position on CoinGecko right now. 1INCH price prediction 2022 is explained below with a daily time frame.
1INCH/USDT Descending Channel Pattern (Source: Tradingview)
A descending channel is a chart pattern formed from two downward trendlines drawn above and below a price representing resistance and support levels. The descending channel pattern is also known as a falling channel or channel down. The upper line is identified first, as running along with the highs and is called the trendline.
The lower line is identified as parallel to the trendline, running across the bottom. It is a bearish chart pattern defined by trendline support the series of lower lows and a diagonal resistance level connecting the lower highs.
Currently, 1INCH is in the range of $1.60. If the pattern continues, the price of 1INCH might reach the resistance level of $1.990, $2.544, & $4.086. If the trend reverses, then the price of 1INCH may fall to $1.174.
1inch (1INCH) Support and Resistance Level
The below chart shows the support and resistance level of 1INCH.
1INCH/USDT Support and Resistance Level (Source: TradingView)
From the above daily time frame, it is clear the following are the resistance and support levels of 1INCH.
- Resistance Level 1 – $1.924
- Resistance Level 2 – $2.584
- Resistance Level 3 – $3.892
- Resistance Level 4 – $5.865
- Resistance Level 5 – $7.870
- Support Level – $1.285
The charts show that 1INCH has performed a bullish trend over the past month. If this trend continues, 1INCH might run along with the bulls overtaking its resistance level at $7.870.
Accordingly, if the investors turn against the crypto, the price of the 1INCH might plummet to almost $1.285, a bearish signal.
1inch Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of 1INCH is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of 1INCH lies below the cutoff line, indicating weaker participants in the current trend.
1INCH/USDT RVOL, MA, RSI (Source: TradingView)
More so, the 1INCH’s Moving Average (MA) is shown in the chart above. Currently, 1INCH is in a bullish state. Notably, the 1INCH price lies below 50 MA (short-term), so it is completely in an upward trend. Therefore, there is a possibility of a reversal trend of 1INCH at any time.
Meanwhile, the relative strength index (RSI) of the 1INCH is at level 57.92. This means that 1INCH is in a neither overbought nor oversold state. However, this means a major price reversal of 1INCH may occur in the upcoming days. So, traders need to trade carefully.
1inch Price Prediction 2022 — ADX, RVI
Let us now look at 1inch’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
1INCH/USDT ADX, RVI (Source: TradingView)
The above chart represents the ADX of 1inch. Currently, 1INCH lies in the range of 24.904, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of 1INCH. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of 1INCH lies above the 50 levels, indicating that the direction of volatility is high. In fact, 1INCH’s RSI is at 57.92 level thus confirming a potential buy signal.
Comparison of 1INCH with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and 1inch.BTC Vs ETH Vs 1INCH Price Comparison (Source: TradingView)
From the above chart, we can identify the trend of the ETH, BTC, and 1INCH is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and 1INCH also increases or decreases respectively.
Conclusion
With continuous improvements in the 1inch network, we can say that 2022 is a good year for 1INCH. For this reason, the bullish price prediction of 1inch in 2022 is $7.87. On the other hand, the bearish 1INCH price prediction for 2022 is $1.174.
Furthermore, with the advancements and upgrades on the 1INCH ecosystem, the performance of 1INCH would help to reach above its current all-time high (ATH) $5.86 very soon. But, it might also reach $8 if the investors believe that 1INCH is a good investment in 2022.
FAQ
-
1. What is 1inch?
The 1inch Network unites decentralized protocols whose synergy enables the most lucrative, fastest, and protected operations in the DeFi space.
- 2. Where can you purchase 1INCH?
1INCH has listed on many crypto exchanges which include Binance, OKX, Hotcoin Global, CoinTiger, and Bybit.
- 3. Will 1INCH reach a new ATH soon?
With the ongoing developments and upgrades within the 1INCH platform, it has a high possibility of reaching its ATH soon.
- 4. What is the current all-time high (ATH) of 1inch?
On October 27, 2021, 1INCH reached its new all-time high (ATH) of $8.65.
- 5. Is 1INCH a good investment in 2022?
1inch (1INCH) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of 1INCH in the past few months, 1INCH is considered a good investment in 2022.
- 6. Can 1inch (1INCH) reach $8?
1inch (1INCH) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then 1inch (1INCH) will hit $8 soon.
- 7. What will be the 1INCH price by 2023?
1inch (1INCH) price is expected to reach $15 by 2023.
- 8. What will be the 1INCH price by 2024?
1inch (1INCH) price is expected to reach $24 by 2024.
- 9. What will be the 1INCH price by 2025?
1inch (1INCH) price is expected to reach $32 by 2025.
- 10.What will be the 1INCH price by 2026?
1inch (1INCH) price is expected to reach $40by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
The post has appeared first on thenewscrypto.com
Read more: https://thenewscrypto.com/1inch-price-prediction-2022-will-1inch-hit-10-soon/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
