Brief Analysis——1INCH
Although BTC led most tokens to usher in a pump, the next day red candle covered the gains of most tokens. Today's brief analysis will continue the review of previously analyzed tokens. What we chose today is UNI and 1inch.
After the last brief analysis, a V-reversal occurred, and the bears quickly covered the gains of the bulls. This is exactly what we predicted (red arrow). And after nearly half a month of fluctuations, 1INCH began a new round of decline.
Bears decayed after the red candle broke the previous low and forms a long pin-bar downward. The bulls did not strengthen, and the price almost spent nearly half a month in a range. We can see that even though the entire market had a pump two days ago, the bulls of 1INCH was not strong. The length and volume of the green candle illustrate this.
Conclusion: Mostly fluctuation. 1inch remains bearish on a large scale. Yesterday's red candle did not cover the previous day's gains. Both bulls and bears are weak. So we come to this conclusion. We set the new resistance level at 0.3 and the support level at 0.2.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
After the last brief analysis, a V-reversal occurred, and the bears quickly covered the gains of the bulls. This is exactly what we predicted (red arrow). And after nearly half a month of fluctuations, 1INCH began a new round of decline.
Bears decayed after the red candle broke the previous low and forms a long pin-bar downward. The bulls did not strengthen, and the price almost spent nearly half a month in a range. We can see that even though the entire market had a pump two days ago, the bulls of 1INCH was not strong. The length and volume of the green candle illustrate this.
Conclusion: Mostly fluctuation. 1inch remains bearish on a large scale. Yesterday's red candle did not cover the previous day's gains. Both bulls and bears are weak. So we come to this conclusion. We set the new resistance level at 0.3 and the support level at 0.2.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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