🔥🔥🔥 #1inch Price Getting Ready For Breakout; Will it Fly to $1?

The January 2024 1INCH price prediction is highly bullish, indicating a potential surge with an upward trend targeting the $1 milestone. Caution is advised due to the crypto's volatility, anticipating sharp moves.

Buyers are aiming to surpass the $0.5000 barrier, anticipating a breakout that could trigger the next rally phase, offering a favorable outlook for long-term investors. Despite active bullish momentum, sellers in the supply zone are challenging upward movements, creating a complex breakout scenario.

The 50-Day and 200-Day EMAs show a strong upward trend, providing reliable support for bulls. 1INCH is presently trading at $0.4524, experiencing a 2.73% intraday drop, with a volume to market cap ratio of $0.2987 over the last 24 hours.

While the crypto retained gains from December 2023, indicating strong investor sentiment, its volatility heightens the risk of fake breakouts, necessitating careful risk assessment. The ongoing uptrend suggests a potential for continued positive performance, urging investors to monitor closely.

The next significant move depends on breaking the $0.5472 hurdle, with the coin possibly consolidating within a narrow range until then. In case of rejection from the $0.5000 level, a retracement to the 50-Day EMA is likely.

Indicators such as the #MACD losing positive momentum and the #RSI cooling off from overbought territory suggest a potential consolidation phase. The 1INCH price prediction remains bullish for the current month, with potential for new highs if buyers control the $0.5000 level, paving the way for a move towards $1.00.

Technical Levels:

- Resistance Levels: $0.5472 and $0.6988

- Support Levels: $0.3597 and $0.3195

Source - thecoinrepublic.com

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