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1inch remained firmly bull and in the coming days probably proceeded towards a zone of resistance of $ 0.33, but but but but but The metrics on the chain signaled considerable profit activity.
1inch [1INCH] He rose higher. After a few months from March to June, where altcoin Consolidated in zone 0.15-0.25 USD, 1 inch, 11 June.
Binance saw that on that day there were 186.76 million 1 inches, a volume of daily trading $ 58.8 million.
The high volume of trading and escape around the resistance of $ 0.25 meant that the rally was real and not a liquidity hunt.
This step came to the back of the news that the team of 1 inches aggressively bought 37.3 million chips for $ 7.5 million and signaled further purchases forward.
Profitable reception could be suspended at rally 1inch
Source: 1inch/USDT on TradingView
The market structure on the 1 -day chart was strongly bull. Escape around a series of lower maximums made since May, with their peak to $ 0.25, a significant decisive bull intention on the market.
The high volume of trading in July grew up and for the year the new maximum increased.
RSI in the daily chart was in an exaggerated area, which was early signs of potential short -term price immersion. Resistance area of $ 0.33 could be revised before the next considerable pullback.
This level was support at the end of January, but was reversed. Traders can look at partial profits at current market prices and wait for a level of $ 0.328.
Source: Single
The data from Santiment suggested that the holders aggressively achieve profits. The average age of coins was from February to June in a stable uptred.
In July, the metrics of the average age of coins cervical, along with the growth of the sky on the sleeping circulation. Together they indicated an intense rush of movement of the tokens among long -term holders, probably for sale.
The MVRV ratio showed that the holders stared at the hefty profits, which increases that the assembly can stop in the short term. The high volume supported other profits.
However, a cautious trader might want to wait for the pull to look again that he will be long again.
Resistance of liability: The information presented does not represent financial, investment, trading or other types of advice and are merely the opinion of the writer
