TradingView Analyst Alexander Klinkov on the Prospects for Multiple Price Increases in the Decentralized Exchange Aggregator Token Price
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1inch is a decentralized exchange (DEX) aggregator that combines multiple DEX exchanges into one platform to provide its users with the most efficient swap routes across all platforms.
From May to October, the market was in long-term accumulation in a wide range of $ 4-1.7. At the end of October, there was a strong upward impulse by 180%, at that moment the price reached $ 7.7. Let's pay attention to this impulse in detail, it is important when building a global picture, as it formed a continuation of an upward trend. Also, the growing bitcoin strongly influences the mood of the entire market. According to my expectations, we will see it above $ 100K within 2-3 months.
Key level 1INCH – $ 3.50 (50% by Fibonacci retracement). The price is forming an uptrend and has shown an organic correction of 50%. If the trend continues, then the uptrend will lead us to the level of $ 8 and above. The growth potential is at least 100%.
The key level of $ 3.5 showed strength, buyers appeared at this level. In this case, I believe that one should focus on the local levels on the 4h timeframe in order to understand the further price movement.
For the growth to continue, the price must consolidate above the $ 4.6 level, bargain there for a while, perhaps even give a slight correction to free up liquidity. The correction will help build strength for the next push into the $ 5.6 area.
Buying and committing plan:
Purchases: $ 3.8-3.5. I recommend setting your stop-loss below $ 3.25. Sale: $ 10 – 16 and up.
Risk / Reward: 1/8
If within 3-6 months 1INCH successfully breaks through the zone of the historical maximum of $ 7.87, we can see 1INCH at $ 20, and maybe even higher.