Trading Signals for $1INCH
Action: Short
Entry Range: $0.3140 - $0.3160
SL: $0.3240
TP: $0.3000 - $0.2900
🥂Trade Now👇$1INCH
🚨Note: Trade at your own risk. DYOR.
The 1INCH price has shown a consolidation range between $0.3108 and $0.3314 over the last 24 hours, with a slight downward trend of -5.74%. A potential consolidation pattern, such as a symmetrical triangle, is forming, suggesting a possible breakdown. Given the weakening momentum and decreasing volume, a short position could be viable once the price breaks below the lower range ($0.3108). The entry range of $0.3140 to $0.3160 is optimal for a short setup, with the stop-loss just above the $0.3240 resistance level, which corresponds to the recent highs. The price target is between $0.3000 and $0.2900, representing a 3%-7% drop, which aligns with typical scalping targets.
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Monitor the market closely for any price action changes, especially around the consolidation zone.