1inch Long

16 авг. 2021 г.

As we can see 1inch has broken the trendline, and is looking for support. The current 4h candle is a hammer candle. If 1inch finds a new support at this trendline, a long could be entered with a stop below the last lower low, 2.88, and a take profit around the supply / demand zone of 3.80 for a ~3:1 reward : risk. The secondary target would be shown as the blue line, around 4.72. This would fill a liquidity gap from the 1d timeframe (not shown in analysis, not sure how to add another picture yet D:)
That being said we are seeing some daily bearish divergences on 1inch right now, so it can be a risky moment to enter a long position.