đąđ Trade Signal for 1INCH/USDT:
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âĄïžAsset: 1INCH/USDT
đ Timeframe: Monthly Chart
đ Technical Overview:
âResistance: $0.6441
âSupport: $0.2000 (Lower Support Zone)
âAll-Time High: $7.8748
âRSI(6): Currently at 34.9652, close to oversold territory, signaling potential for upward movement.
đ Bullish Outlook:
- Price is currently consolidating near its lower support zone, indicating a potential reversal.
- With RSI approaching oversold levels, there's a likelihood of a price increase towards the resistance at $0.6441.
- Breaking above $0.6441 could open the path towards higher levels, possibly targeting $1.00+ in the medium term.
đąEntry Point: A strategic entry would be around $0.26 - $0.28, near the current market price and just above the lower support zone.
đ Target Prices:
âShort-term: $0.64 - $1.00
âLong-term: Potential for 2,870% gains if it revisits its all-time high of $7.8748.
đŒ Risk Management:
âStop-loss: Place at $0.20 to limit downside risk, just below the lower support.
đ Indicators:
âMACD shows a slight positive divergence, suggesting a possible reversal.
âRSI close to oversold, indicating upward momentum could be imminent.