1Inch Network Price Prediction: 1INCH Keeps On Pumping With Another 25% Surge As This New Meme Coin Challenger Moves Close To $5.7 Million

1Inch Network price is up 25% in the last 24 hours to trade for $0.5147 as of 6:30 a.m. EST time, with an 1120% surge in trading volume.

Featuring among the top gainers, the 1Inch Network price is surging as investor and trader attention shifts to low market cap altcoins. This is because the BTC market is highly volatile owing to low trading volumes. With the Spot BTC exchange-traded funds (ETFs) approval window closing in,(January 5 to 10), investors are waiting for the outcome

$ALCX is at resistance but #1inch still has room to grow imo
many other charts look prime for a move up provided #bitcoin behaves
with ETF approaching many expect a drop while many other expect a pump (lol)
so yes, volatility will be there
I say..we pump for few weeks & then🔻 https://t.co/wRXiLJ44lD pic.twitter.com/IWcu9cq4wf

— white is white (@cryptowhitewalk) January 1, 2024

Meanwhile, the surge in the 1Inch Network price can also be associated with the buy the rumor sell the news situation. In six days, the network will be unlocking 32,140 1INCH tokens worth approximately $13,500. Token allocations will be to the team, investors, and venture capitalists (VCs).

The last time this happened was on December 27, causing a price crash of 8%. Nevertheless, ahead of the event, the price rallied 32% around the ‘buy the rumor’ scenario. If history is enough to go by, 1INCH Network’s price upside potential may not be over just yet.

1INCH Network Price Outlook With 32,140 1INCH Tokens Due To Flood Markets In A Cliff Unlock

After a hard 25% pump, 1INCH token is overbought as the Relative Strength Index (RSI) reading is 73. However, considering this momentum indicator is still northbound, the upside potential may not be over just yet as buying pressure is still rising.

Increased buying pressure could see 1Inch Network price extend the gains to fill the market range by tagging the July 17, 2023 range high at $0.5935. In a highly bullish case, the gains could extend higher for the price to clear the local top at $0.6982, potentially going as high as recording a new range high.

Further accentuating the bullish thesis, the bulls continue to maintain a strong presence in the 1INCH market. This is indicated by the position of the Awesome Oscillator (AO) and the Moving Average Converge Divergence (MACD) in the positive territory. The histogram bars of these indicators are also flashing green, bolstering the case for the bulls.

On the flip side, if the bulls show weakness, the bears could take over the market, sending the price lower. The ensuing seller momentum could see the price lose the support offered by the most important Fibonacci level of 61.8% at $0.4453.

For the prevailing bullish thesis to be invalidated, 1Inch Network price must break and close below the 50% Fibonacci level at $0.3987. In the dire case, the slump could extend lower to the 23.6% Fibonacci level at $0.2946.

While 1Inch Network price works out its next move, consider MK for your portfolio diversification endeavors. This presale token continues to make headlines as analysts’ top choices for upcoming crypto presales.

Promising Alternatives To 1INCH

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Also Read:

• How To Buy Meme Kombat On Presale – Alessandro De Crypto Video Review
• Ethereum Price Blasts Past $2,300 While Meme Kombat Skyrockets Above $5m As Meme Coin Whales Buy Big  
• Meme Kombat Presale Heats Up as MK Token Nears $5 Million – Could It See a 10x Rally in 2024?

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