Key Takeaways
- 1Inch Current Status: 1Inch price is currently trading at , showing a 9.6% increase over the past 24 hours. This uptick comes after several months of downward price movement, driven by strategic token buybacks by the 1Inch Network, aiming to instill market confidence.
- Market Performance: With a market cap of $326 million and a circulating supply of 1.25 billion tokens, 1Inch remains in a precarious position. Its Fear-Greed Index is at 29, reflecting a strong fear sentiment among investors, while the token has seen 53% of its trading days in green over the past month.
- Technical Analysis: 1Inch price’s immediate support lies at $0.22, which is reinforced by the network’s recent buyback at the same level. To shift into a bullish trend, 1Inch price must overcome resistance at $0.32, $0.35, and more critically, the $0.5 psychological barrier. The 50-day and 200-day EMAs, sitting at $0.29 and $0.37 respectively, also suggest further upward momentum is needed.
- 1INCH Price Predictions: If 1Inch price manages to break the $0.5 resistance, its next target could be near $1, a 300% increase from current levels. On the downside, failure to maintain current support levels could push the price toward $0.19 or lower.
Where will 1Inch Price Head Next?
- 1Inch price has been on a steady downward trend ever since it touched its YTD high back in the middle of March 2024 and has been falling consistently, in a constant lower high, lower low price action.
- 1Inch price saw a spike recently, due to the project buying up nearly 8 million 1Inch token at $0.22 a piece – resulting in some optimism coming into the market and a sudden supply shock.
- To continue this rally, 1Inch price needs to recovery and jump back above the crucial psychological price level at $0.5, after which the next target would be placed 300% above the current 1Inch price, near $1.
- On the downside, 1Inch price would find support near the S1 Fibonacci pivot level near $0.22, which was also the price level that the project itself bought nearly 8 million 1Inch tokens at.
| Indicator | Value |
|---|---|
|
Support levels (Fibonacci, S1/S2/S3)
|
$0.22 / $0.19 / $0.14
|
|
Resistance levels (Fibonacci, R1/R2/R3) |
$0.32 / $0.35 / $0.4 |
|
50-day EMA |
$0.29 |
|
200-day EMA |
$0.37
|
|
RSI level |
54.2
|
|
MACD level (Signal Line) |
-0.0
|
Why did 1Inch Price Spike Recently?
The 1inch Network has made strategic investments in its native token, purchasing 7.96 million 1inch tokens at $0.22 each, spending $1.75 million in total. Since July 2024, the team has invested around $5.49 million in buying 22.4 million tokens at an average price of $0.25 each. This contrasts with a previous period from March 2023 to January 2024, during which they sold 16.97 million tokens at an average price of $0.464 each, reflecting a deliberate strategy in asset management.
The network has seen notable growth in Q2 2024, with daily average transaction volumes increasing by 12% and active addresses rising by 27%. One significant driver of this expansion was the launch of 1inch Base, a Layer-2 solution that fueled a 280% surge in trading activity. Additionally, the 1inch token’s volume spiked by 127.24%, with the price currently at $0.2382 after a 1.08% increase over the past day. These developments, including the launch of new products like 1inch Fusion 2.0, the 1inch Shield API, and the 1inch Card, reflect the network’s growing prominence in the decentralized finance (DeFi) space.
September 2024 is set to witness a mixed performance for 1Inch price, with the month likely starting on a bearish note due to prevailing market corrections. Initial support is expected around the $0.35 mark, aligning with the lower boundary of the anticipated price range. As the month progresses, a gradual shift towards bullish sentiment may take shape, driven by the emerging “Uptober” effect. This potential upswing could push 1Inch price towards the upper range of $0.40. Technical indicators suggest that overcoming the $0.37 resistance level might signal a shift in momentum, setting the stage for a more optimistic market close.
October 2024 promises to be a dynamic month for 1Inch price, as the token is projected to experience one of its most robust gains of the year. With the broader crypto market’s excitement fueling upward momentum, 1Inch price is anticipated to break through the crucial psychological resistance at $0.50. This breakout could propel the price towards the upper target range of $0.55, supported by bullish technical indicators such as the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) suggesting strong upward pressure. The month’s performance will likely be influenced by continued market optimism and heightened trading volumes.
In November 2024, the residual impact of the “Uptober” rally is expected to bolster 1Inch price performance, potentially driving the price up to approximately $0.62. As the market seeks to capitalize on previous gains, the token might approach the $0.55 level, testing new highs for the year. The spillover effect from October’s bullish trend could see 1Inch price attempting to breach the $0.60 resistance, setting the stage for a test of $0.70. Technical analysis indicates that sustained buying pressure and a strong RSI reading will be crucial for this continued upward trajectory.
December 2024 may bring a more tempered finish for 1Inch price after a pair of strong bullish months. The price is projected to consolidate within the range of $0.65 to $0.70, with $0.70 emerging as a significant psychological resistance level. The altcoin could face headwinds as the year closes, with technical indicators such as the Exponential Moving Average (EMA) signaling potential resistance at the upper end of the forecast range. A softer end to the year might reflect profit-taking and market stabilization after a robust period of growth.
1Inch Price Prediction 2025
In 2025, 1Inch price is anticipated to experience a significant price range, potentially reaching between $0.80 and $1.00. The beginning of the year may witness a gradual buildup of bullish momentum, driven by the continued expansion of decentralized finance (DeFi) and broader adoption of blockchain technologies. As 1Inch price capitalizes on these trends, technical indicators like the Fibonacci retracement levels and Bollinger Bands suggest potential resistance at $0.85, with a breakout above this level setting the stage for a push towards the $1.00 mark. The year’s performance will be influenced by overall market sentiment and institutional interest in DeFi assets.
In 2026, 1Inch price is projected to face a period of consolidation and gradual growth, with price expectations ranging between $0.70 and $0.85. Following the bullish run of 2025, the market may see a corrective phase as profit-taking and market volatility impact the token. The Relative Strength Index (RSI) and moving averages will play key roles in identifying support levels, with $0.75 likely serving as a critical support zone. The price action is expected to stabilize and build a foundation for future growth, provided there is no significant disruption in the DeFi sector or broader market conditions.
- In 2027, 1Inch price may see a resurgence in its price, potentially ranging from $1.00 to $1.25, as the DeFi ecosystem continues to mature and expand. The token’s performance could be bolstered by increased utility and adoption across decentralized applications. Technical indicators such as the MACD and moving averages are expected to signal a bullish trend, with resistance levels at $1.10 and $1.20. The year could also witness a potential breakout above $1.25 if market conditions remain favorable, setting a new high for the token’s valuation.
In 2028, 1Inch price is projected to experience a dynamic price trajectory, ranging from $1.20 to $1.50. The continued evolution of DeFi protocols and increased integration of blockchain solutions could drive further price appreciation. However, market volatility and potential regulatory developments may introduce fluctuations. Technical analysis will be crucial, with key resistance levels at $1.35 and $1.45. A successful breach of these levels could propel the token towards the upper end of the forecast range, reflecting strong bullish sentiment and market confidence.
By 2029, 1Inch price may see its price fluctuate between $1.50 and $1.80 as the DeFi space reaches a more mature stage. The token’s performance will be influenced by broader market trends and technological advancements within the blockchain ecosystem. The presence of significant resistance at $1.70 could pose challenges for further gains, but a sustained bullish trend could push the price towards $1.80. Technical indicators such as the EMA and RSI will help in assessing potential breakout opportunities and market direction throughout the year.
In 2030, 1Inch is expected to continue its upward trajectory, potentially reaching between $1.80 and $2.20. The evolution of decentralized finance and increased mainstream adoption of blockchain technology could drive significant price gains. Technical analysis will focus on key resistance levels around $2.00 and $2.15. A robust bullish trend and favorable market conditions could see 1Inch price surpassing these resistance points, establishing new highs. Market sentiment, technological developments, and regulatory factors will all play critical roles in shaping the token’s performance during the year.
Will 1Inch Price Rise Again in 2024?
In 2024, the outlook for 1Inch price shows promising potential for recovery and growth. Following a period of consolidation and price adjustments in late 2023, 1Inch price is poised to experience a resurgence in value throughout the year. The anticipated price range for 1Inch price in 2024 is between $0.35 and $0.55, reflecting a phased recovery from earlier bearish trends.
Early in the year, the token may face some bearish pressure, with technical indicators such as the Relative Strength Index (RSI) and moving averages suggesting possible support levels around $0.35. However, as market sentiment shifts and the “Uptober” effect takes hold, a bullish reversal is expected. By mid-year, technical patterns like ascending triangles and bullish crossovers could drive the price towards the upper end of the forecast range, reaching up to $0.55.
The broader crypto market’s recovery, coupled with increased interest in DeFi assets and potential positive developments in the 1Inch ecosystem, will be crucial in supporting this price rise. A sustained bullish trend, supported by favorable market conditions and strong technical signals, could enable 1Inch price to break through key resistance levels and capitalize on the growing momentum, positioning itself for a stronger performance as the year progresses.
