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1Inch Network Price Prediction - A 50% Bounce Ahead?

 


Most of the DeFi space is on the downside and has seen a strong downtrend on the chart. Despite everything, there are always rashes that could lead to strong price gains. These often happen based on technical analysis. But news can also lead to strong price increases. Today we are looking at the 1Inch Network chart to assess whether or not the 1Inch Network price is going to increase in the near future.


The 1Inch Network price has been in a falling wedge for the past few weeks. The week before last, the price was able to test the lower trend line and confirm it as support. Since the price often bounces up to the upper trend line, we assume that the 1Inch Network price will rise to the upper trend line. This would mean a price increase of around 60%. After that, after the price hits the upper trendline, the price could drop again and test the lower trendline. So we could be below the current price in a few months.


With the 1Inch Network price in a falling wedge, the price could break out bullishly in the next few months, or even into the next year. The target of the formation is around $4. There lies the first major resistance. Since we have this pattern in the weekly chart, you can also say in the monthly chart, it will take some time until the targets are reached.

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