Cryptocurrency News – 1INCH, one of the altcoins in the cryptocurrency market, gained more than 12% in the last 24 hours and rose to $0.3723. The cryptocurrency's success in the last 24 hours increased its weekly gain to 21.99%.
1INCH aims to break the resistance point currently located at $0.3756.
CoinMarketCap data shows that 1INCH price is up more than 12% despite most cryptocurrencies trading in the red. Additionally, the total crypto market cap decreased by 0.26% in the last 24 hours, causing it to drop to $1.21 trillion.
1INCH is trading around $0.3723 at the time of writing. This means the altcoin is trading much closer to its daily high of $0.3787 than its 24-hour low of $0.3331. Additionally, the altcoin's 24-hour trading volume increased by more than 300% over the past day. As a result, the current trading volume was recorded at $89,399,645.
Altcoin's rise continues
1INCH's success in the last 24 hours increased its weekly earnings to 21.99% and its monthly earnings to 40%.
1INCH broke above resistance levels at $0.3375 and $0.3539 in the last 24 hours, turning both into support. The altcoin is currently aiming to break the next resistance level located at $0.3756. However, the bears did not give up quickly. Because they continue to defend this point of resistance with great strength.
Traders should keep in mind that a short-term bearish candlestick pattern has formed on the 3-hour chart of 1INCH over the last 3 hours. During this period, a pattern formed on the chart indicating that the price was approaching its peak. If this model is confirmed, the price of the altcoin may experience a decline in the next 6-12 hours.
On the other hand, if this pattern is not confirmed, 1INCH could turn the resistance at $0.3756 into support and rise above the $0.3987 level in the next 24 hours. For this bullish scenario to occur, any 3-hour candle must close above $0.3756 in the next 24 hours.
