• The 1INCH token experienced a 1.61% decrease in the last 24 hours, however, it has been on an uptrend in recent weeks.
• Investors have the opportunity to take advantage of the dip and add it to their portfolios.
• At press time, 1INCH trades at $0.64 after a downtrend of 1.61% in the last 24 hours with a potential for further growth.
1INCH Price Prediction: 1INCH Slumps With a 1.61% Decrease
The 1inch Network token, 1INCH, suffered a 1.61% downtrend in the past 24 hours due to market volatility but has been on an uptrend lately. As a result, investors can take advantage of this dip and add it to their portfolios before prices rebound as more people join DeFi investments.
What is 1inch Network?
1inch Network is a decentralized exchange (DEX) aggregator that assists customers in locating the best token trade prices from various sources across different blockchains providing users with access to deep liquidity at affordable prices and high levels of security. The platform also offers its own utility token known as the ‘1INCH’ which holders can stake for voting rights within the network’s DAO governance model including control over its treasury funds.
Current Price Status
At press time, 1INCH trades at $0.64 after suffering from its short-term downtrend of -1.61%. However, this digital asset has seen an overall increase of 18% in its 7-day price action and 24% within 30 days showing potential for further growth if market trends remain positive despite current volatility levels.. According to technical analysis data provided by TradingView, signs point towards bullishness as this asset is trading above its 50-hour SMA indicator while finding support at 61.8 Fibonacci retracement level ($0.61). Additionally, 200-day SMA indicator stands close to current price indicating no major changes expected soon making now an ideal time for new entrants into DeFi markets with long-term strategies in mind
Buy Now Before It Rebounds
Given recent market fluctuations most digital assets have experienced decreased values such as that recently seen by the popular DeFi project’s native token; however given rise experienced over recent weeks this may be seen as an ideal opportunity for investors seeking long term gains as well as those wishing to diversify their portfolios with low cost tokens from one of today’s leading projects in decentralized finance space .