CoinDCX Lists New Futures Trading Pair: 1inch/USDT – Trade Now!

Key Takeaways:

• 1inch is a crypto that has been seeing bearishness over the past two months but has been recovering in line with the broader market in the last few days.
• With the king coin, Bitcoin rallying above $30,000 amid positive news across the globe, 1inch also rallied over 22% over the past five days.
• $0.44 and $0.7 would serve as crucial resistance levels for this particular crypto asset as we advance.
• A breakout beyond $0.7 would bring about a strong wave of bullishness back into the market, and we could see a rally all the way up to $1 level!

1inch/USDT Price Analysis

1inch/USDT | Source: TradingView

• 1inch is a token that has been facing some bearish pressures over the last couple of months, especially since the beginning of April 2023.
• 1inch/USD lost nearly 50% of its value between April 1, 2023, to current values – which has also resulted in the formation of a downward channel (indicated by the grey parallel channel on the chart).
• However, in line with the broader market, 1inch/USD has been seeing some recovery from the YTD lows and has touched the $0.3 level after five days of consecutive gains – potentially indicating that the downward trend might just be over.
• A recovery from current levels to previous YTD highs would give returns in excess of 125% and thus presents a good entry potential.
• However, bullish trades should be taken with a lot of consideration as 1inch price will have to face still resistance levels along the way, firstly being the death cross of the 50 and 200-day exponential moving average and secondly, the trendline resistance at $0.44.
• But on the other hand, the Relative Strength Index, currently at about 43, presents an excellent bullish outlook for the token at current levels too.

CoinDCX Presents Traders Premier League!

You can now trade in your favorite cryptos in the futures market, including 1inch, and even get rewarded for it! Trading in futures at CoinDCX offers a host of benefits, including up to 20x leverage, deep global liquidity, and 55+ trading pairs for you to choose from!

Read all about TPL at: What Is CoinDCX Traders Premier League?

1inch 2023 Price Prediction

From a purely technical point of view, 1inch price is reasonably well positioned to reattain the YTD highs of $0.7 by the end of 2023. While a breakout beyond the $0.7 level seems unlikely, even a rally, all the way up to that level presents a 128% rally, as depicted in the chart above. This would, of course, be dependent on the broader market sentiment continuing to remain positive for the remaining six months of the year.

Read More: 1inch Price Prediction

TPL by CoinDCX has been one exciting ride! A 50+ days (from June 2023 to August 2023) of futures trading battle between 10 teams spread all over India, led by the master traders of the country! The battle days also saw participants winning in the daily activities curated for various kinds of traders!

Values as on June 23, 2023.