A technical and fundamental view of 1Inch token price provides the context for making an accurate 1Inch price prediction for 2022 and beyond. 1Inch is a public blockchain running a suite of DeFi protocols that underpin its thriving ecosystem working to bring decentralized finance to the masses.
The token at the heart of this open financial ecosystem is booming and pioneering a future where developers can launch dApps powered by 1Inch crypto. As such, three things dominate 1Inch Network operations – speed, security, and value creation.
1Inch Price Prediction | Introduction
At the time of writing this 1Inch price prediction, the token price traded just above $2.52, according to CoinMarketCap. The network had a market cap of more than $1 billion, which is fully diluted to over $3.7 billion.
1Inch is the native currency to a leading DeFi service provider, where it underpins the network by providing a lucrative, fast, and safe environment to develop dApps. This crypto has been on an absolutely spectacular run, largely impervious to the recent market volatile, speculative investments.
As quickly as crypto can reach a new high, it could go back down. 1Inch is gearing up to be a serious contender in the industry, which makes this 1Inch prediction even more important to investors going into 2022.
1Inch Price Prediction: Technical Analysis
Looking at the 1Inch crypto price history, we can make a conclusion on the best possible course of action in 2022.
1Inch crypto price has been on the right track for these past few days, with a technical rally that has seen the bulls rejected by the 55-day simple moving average at $2.98, just a few ticks shy of the $3.86 significant historical level.
Moving forward, 1Inch price gaps were lower and looked to be pairing back most of its built-up gains from 2021 in search of support. At this point, the expected 1inch crypto price prediction is a dip further with support at $2.
The bulls could be under further correction as 1Inch, together with most of the cool-kids on the crypto-block, enjoy the Christmas rally only to stall across the border closer to the end of the year. As the market is awakening after the festive season, most indicators and indices are quoting prices in the red.
Many cryptos are on the back foot, and like 1Inch, the sentiments are looking rather grim. Expect price action to main under pressure for the remaining trading days, as surviving bulls look for support to launch a scathing attack in 2022.
In the case of a bullish 1Inch price prediction, the first line to watch is the ascending pattern that acted as the support during the rally and broke higher earlier in 2021 and then continued to provide support in the months that followed.
It will be essential to see if 1Inch can do this again because a break below could see losses that mount to 20%. If that is the case, 1inch could head lower towards $1.05, which is likely the support level against any further losses.
If market sentiments shift to the upside, a retest of the 55-day SMA will be likely and the $3.86 level market up on the chart. The burden now lies on the bulls who need to make it through there, expect to see some choppy price action for at least the first three months of 2022.
With a potential profit range of 20% as the monthly pivot, the 200-day SMA and historical 1Inch price resistance level all lie in that zone. A test of this level could spark a profit-taking frenzy that could send 1Inch back into the dip.
1Inch Price Prediction: Market Opinions
The cryptocurrency market has fallen straight, sending chills up the spine of the industry as the new batch of traders is yet to grow accustomed to the extreme price swings in the market. 1Inch has been flirting with resistance levels as bulls lost their footing.
This cryptocurrency seems non-committed to a bullish directional bias, but market forces remain close to it and could drive the necessary momentum to push it higher in 2022. In the meantime, the market is flooded with 1Inch price prediction narratives, including the following:
1Inch Price Forecast for January – February
CoinArbitrage 1inch price forecast for January – February is of the opinion that this crypto is set for a bullish breakout in the next two months, even as tailwinds persist. The bears and bulls will fight for control, but the forecast projects a test of $3.64.
CoinDataFlow 1Inch price forecast for January – February projects the coin will attract fresh capital as investors dream of an all-time high mid-2022. The 1Inch price prediction for early 2022 is $2.47 as the coin inches closer to record gains before 2025.
1Inch Price Forecast for the Rest of the Year
DigitalCoin 1Inch price forecast for the rest of the year predicts the bullish investor scrambles will prevail in 2022. The forecast determines 1Inch is set to make a double bottom with bullish signs in the new year that could catapult 1Inch to $6.53 in 2022.
WalletInvestor 1Inch price forecast for the rest of the year is bearish, with the conclusion that the downtrend could remain in effect. Still, the tide could exhibit signs of a turnaround, even though futile, as the coin will trade around a high of $2.40.
1Inch Price Forecast for the Next Year
Gov.Capital 1Inch price forecast for the next year shows the coin is set to pop at least 15% by the start of 2022, and the bullish outlook continues with bulls in a festive mood, pushing a 1Inch price prediction of $3.91.
PricePrediction 1Inch price forecast for the next year is bullish as it forecasts the consolidation in price could encourage the bulls to buy in mass. As the coin reclaims its crucial support, this advance will put a new price high in reach and record $4.56.
Cryptocurrency Experts and Influencers
HarmonicPicthforks – cryptocurrency trading expert – interprets the current price action as a clear buy opportunity as 1Inch bulls aim to set up the crypto for a test above $10 before the end of 2022. In the grand scheme of things, this analysis shows 1Inch still trading within a bullish channel despite the dips.
FromTheBackSide is likewise bullish, pointing to an ascending triangle shape that validates the 1inch price prediction eyeing $5 by mid-2022. It’s working a tight schedule as the forecast faces a bear trap with squeeze against $5 riddled with profit-taking.
Latest News and Happenings Concerning 1Inch
The 1inch token recently benefited from bullish fundamentals following the announcement that the network had successfully completed a Series B round of funding, raising $175 million. This news sent 1Inch skyrocketing as traders took this as a sign of investor confidence.
Amid the buying opportunity, the network is expected to execute an expansion drive that could leverage the capital injection of staff scaling, fostering new applications, launching new protocols, and above everything, creating value for 1Inch crypto.
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What Is the 1Inch Crypto?
1Inch crypto is the native currency of the 1Inch network, a decentralized exchange aggregator that seeks to make it easier for developers to launch DeFi dApps. Ownership of 1Inch allows investors to vote on key issues affecting the network.
What Does 1Inch Crypto Do?
1Inch crypto is the currency developers use to pay for service and utility on the 1Inch ecosystem. It was created to facilitate real-time, safe, and secure transactions on the network, backed by blockchain technology.
Will 1Inch Crypto Go Up?
Yes. There are more bullish predictions on 1inch crypto than there are bearish. Also, the median 1Inch price prediction shows the crypto is poised for a surge in prices in 2022 fuelled by multiple internal and external factors.
1Inch Price Prediction: Verdict
The most likely 1Inch price prediction is bullish. All signs point to bullish breeding grounds in 2022 that could set up most altcoins for explosive gains, and 1Inch crypto is among the cool-kids that will benefit from these market sentiments.