TradeCityPro | 1INCH Tests Supply Zone After Strong Bounce

👋 Welcome to TradeCity Pro!
In this analysis, I want to review the 1INCH coin for you. It’s one of the DeFi coins, with a market cap of $256 million, ranked 162 on CoinMarketCap.

⏳ 4-Hour Timeframe
As you can see in the 4-hour timeframe, this coin is sitting on a support floor at the 0.1668 zone and has formed a range box at this bottom.

🔔 There’s a key supply zone at the top of this range box, which I’ve marked as a range for you, and currently, the price is inside this zone.

📊 Given the significant buying volume that has entered this coin, the price has penetrated into this range and is testing it for the several-th time.

✨ If this range is broken, we can confirm the bullish reversal of this coin and open a long position. Volume has already given us confirmation, and if RSI enters the Overbuy area, that will be our momentum confirmation.

🔼 The next resistance levels for this coin—which we can consider as targets—are 0.2031 and 0.2207.

✔️ If the price gets rejected from this zone, it may move back down toward the 0.1668 floor. For a short position, we can enter if 0.1668 is broken.

📉 However, if we get confirmation of rejection from the zone, we can look for an early entry trigger in the lower timeframes.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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