1INCH coin price struggles to outperform the 50-day EMA and the resistance trendline. Will bulls outrace the confluence of resistance? Key technical points: 1INCH coin price struggles to surpass the 50-day EMA. In addition, the price action shows a falling wedge pattern. Finally, the 24-hour trading volume of 1Inch Network is $75 Million, marking a 26% fall. Past Performance of 1INCH The 1INCH coin price shows a price jump of 20% from $1.25 to $1.55, including the short retracement from the resistance trendline. The resistance trendline forms a falling wedge pattern in the daily chart. Hence, the rejection haunts a bearish retracement to the support trendline below the $1.25 mark. Source-Tradingview 1INCH Technical Analysis 1INCH coin price action gives off a bearish vibe as the selling pressure grows at the confluence of the 50-day EMA and the resistance trendline. However, the recent Doji candle formations tease another bullish attempt. The crucial EMAs (50, 100, and 200) project a bearish alignment and showcase a recent fakeout of the 50-day EMA due to the resistance trendline. However, another breakout will increase the chances of a jump to the 100-day EMA. RSI Indicator: The RSI slope continues to trend diagonally in the nearly overbought after the recent spike surpassing the halfway mark. MACD Indicator: The MACD and signal lines show a crosswise move as they approach the central line. However, the falling distribution of the MACD histograms showcases a fall in buying pressure. In a nutshell, the 1INCH technical analysis keeps a neutral vibe. Upcoming Trend 1INCH coin price will reach the 100-day EMA close to the $2 mark if the bulls outgrow the falling wedge pattern. However, the price action confirmation is a must before picking a trade. Conversely, the reversal will nullify the breakout approach and result in a price fall to the $1.25 mark. Support Levels: $1.50 and $1.25 Resistance Levels: $2 and $2.40 Â
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