1INCH Technical Analysis: Will The Breakout Rally Reach $1?

1INCH prices action shows the sellers at $0.80 resisting the bullish growth despite the recent trendline breakout. Will the recovery rally reach $1? Key technical points: The 1INCH market price has decreased by 2.86% over the past 24 hours. The price action shows the trendline breakout rally struggling to rise above $0.80. The 24-hour trading volume of 1inch Network is $208 Million, indicating a rise of 124%. Past Performance of 1INCH 1INCH price action showcased a long-term correction phase under a highly bearish resistance trendline accounting for a downfall of 72%. The downtrend depleted the market value from the heights of $2 to the depth of $0.55. However, the recovery rally from $0.55 beats the selling pressure of the resistance trendline but the sellers trap the bullish growth at $0.80. Source- Tradingview 1INCH Technical Analysis The higher price rejection led to a morning star pattern in the 1INCH price action near the $0.80 mark. The bullish recovery last night helps the daily candle retest the overhead resistance but the selling pressure resurges today teasing a reversal. Hence, traders hoping for a bullish breakout must wait for the price action confirmation coming with a candle closing above $0.80. In terms of the technical indicators, the DMI displays the DI lines struggling to maintain a bullish alignment after the recent crossover. It is evident by the recent fall in bullish spread displaying the bearish attemp...