Technical Analysis: Attempting to Break the Downtrend Cloud
Based on the 1INCH/USDT chart from Binance, the pair is showing signs of a short-term recovery after a period of intense selling pressure. Here are the key technical insights:
Price Action: The price is currently at 0.0984, testing the "SuperTrend" resistance levels (red shaded areas). We notice a micro "double bottom" formation near the 0.0798 zone, which has fueled the recent +12.84% bounce.
MACD Indicator: A clear bullish crossover is visible with increasing green histogram bars, suggesting potential upward momentum in the short term.
Stochastic RSI: The indicator is currently in the Overbought zone (reaching 99). This implies we might see some sideways consolidation or a minor pullback before a sustained breakout. Caution is advised against "FOMO" buying at these exact levels.
Volume: There is a slight uptick in trading volume compared to previous sessions—essential "fuel" for breaking the 0.1037 resistance.
🎯 Professional Trade Recommendation (Risk Management)
Pro Tip: Avoid going "all-in." The market remains volatile.
Trade Type: Swing Trade.
Ideal Entry Point: Wait for a retest of the 0.0950 level or enter after a 4-hour candle close above 0.1040 to confirm the breakout.
Targets:Target 1: 0.1170
Target 2: 0.1300
Stop Loss (SL): Daily close below 0.0880.
📝 Short Article: "Is the 1INCH Bleeding Finally Over?"
"After a prolonged period of selling pressure that exhausted 1INCH holders, technical signs of a reversal are finally emerging on the chart. We are at a critical juncture; the price is testing significant psychological and technical resistance zones.
While the bullish MACD crossover and the recent 12% gain look promising, a disciplined trader doesn’t chase green candles without confirmation. The Stochastic RSI hitting overbought levels suggests we might see a brief cooling-off period before a true rally begins.
The golden rule right now: Watch the 0.1040 level. A breakout and sustained hold above this mark would clear the path toward 0.13 and beyond. Trade smart, stick to your stop loss, and remember—the market doesn't give handouts; it rewards those with a plan and patience."
#1inch $
