1INCH Technical Analysis: High Momentum Recovery Eyes $0.80

1INCH price action shows a remarkable recovery rally surpassing the resistance trendline. Will the recovery rally surpass $0.80? Key technical points: The 1INCH market price has increased 22.45% over the past 24 hours. The price action shows a resistance trendline breakout. The 24-hour trading volume of 1INCH Network is $206 Million, indicating a hike of 350%. Past Performance of 1INCH 1INCH prices have been steadily declining due to an extremely bearish resistance trendline in the daily chart. The bearish fall in price pushed the altcoin towards a low of $0.53 and accounted for a 73% decline in value since April. But, following a rebound from the psychological threshold of $0.53 and a market price that rises by 30%, it is able to surpass the resistance trendline. Source- Tradingview 1INCH Technical Analysis 1INCH price action forms a bullish engulfing candlestick yesterday resulting in the trendline breakout with a boom in trading volume. Hence, traders can expect the breakout rally to reach the overhead resistance at $0.80. The altcoin prices have been trading lower with the 20 and 10-DMA providing dynamic resistance. But, the recent rise surpasses the 10-DMA and is preparing to take on the 20-DMA. The daily-RSI slope spikes from the oversold zone to approach the halfway line and surpass the 14-day SMA, reflecting a boom in the underlying bullishness. Hence, the indicator adds points to the breakout rally reaching the $1 mar...