1INCH/USD - We broke the ascending channel, but recovered!
1INCH had a nice correction after breaking the ascending channel and now we recovered most of that loss from the past two days.
Now we find ourselves at this resistance (dotted line) which is a rather odd formation as we have support right below it as well... I expect price to quickly leave this range, either up or down.
The indicators suggest a bullish bias, so the most likely scenario is that we go up from here after maybe bouncing a bit in this range.
MACD on 4h just crossed on the positive side so with good volume we should be going up soon. I was concerned about our daily indicators, but we're curving up there now, so this move up can be sustained.
Overall bullish! Watch this level as once we're out of this channel between support and resistance we have some quick gains to make.
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Now we find ourselves at this resistance (dotted line) which is a rather odd formation as we have support right below it as well... I expect price to quickly leave this range, either up or down.
The indicators suggest a bullish bias, so the most likely scenario is that we go up from here after maybe bouncing a bit in this range.
MACD on 4h just crossed on the positive side so with good volume we should be going up soon. I was concerned about our daily indicators, but we're curving up there now, so this move up can be sustained.
Overall bullish! Watch this level as once we're out of this channel between support and resistance we have some quick gains to make.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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