1INCH IS A STALLION, $30 DOLLAR MOONSHOT (12X)
Updated
HELLO FELLOW TRADERS & HAPPY HOLIDAYS!
Today we will consider the trading pair 1INCH/USDT
Almost a year ago (just 3 days from now), 1INCH was listed on binance on christmas day with an opening price of $0.2 and shot up to $3.089 in that same day. Fast foward a few weeks/months later and 1inch would go ahead to make new ath's of $7.875 in May making it a +3800% growth in price from the day of listing.
After a slight correction, 1inch found itself trading just around the 0.382 fib retracement support level . making a low of $1.618 late july.
should that be the bottom for the DEX coin, we can say the +3800% increase in price serves as a first wave extension (as long as it doesnt touch the 0.5 fib support).
Should this be the case, we can then proceed to take our fib tool (green fibonacci) and measure from starting point of the blue fib( ath ) to the 0.618 level (red) and target just under the 1.618 resistance level (black) for our wave 3 target, giving us a target of about $30.
If you agree or do not agree with this idea, pls leave your thoughts and comments below.
A like would go a long way and will be very much appreciated.
Check out other ideas linked below😉
MERRY CHRISTMAS AND HAPPY HOLIDAYS🎄
Today we will consider the trading pair 1INCH/USDT
Almost a year ago (just 3 days from now), 1INCH was listed on binance on christmas day with an opening price of $0.2 and shot up to $3.089 in that same day. Fast foward a few weeks/months later and 1inch would go ahead to make new ath's of $7.875 in May making it a +3800% growth in price from the day of listing.
After a slight correction, 1inch found itself trading just around the 0.382 fib retracement support level . making a low of $1.618 late july.
should that be the bottom for the DEX coin, we can say the +3800% increase in price serves as a first wave extension (as long as it doesnt touch the 0.5 fib support).
Should this be the case, we can then proceed to take our fib tool (green fibonacci) and measure from starting point of the blue fib( ath ) to the 0.618 level (red) and target just under the 1.618 resistance level (black) for our wave 3 target, giving us a target of about $30.
If you agree or do not agree with this idea, pls leave your thoughts and comments below.
A like would go a long way and will be very much appreciated.
Check out other ideas linked below😉
MERRY CHRISTMAS AND HAPPY HOLIDAYS🎄
Trade active
pennant breakout on the 4H & 1D timeframe
Trade active
1INCH has broken it's downward sloping resistance trendline ont the 4h and daily timeframe
Trade active
1INCH is currently below it's PoC(Point of Control)Should this turn to resistance, we will revisit the bottom of the range to find support, if that breaks the 123.6 fib support will be our worst case scenario.
Volumeprofile tool shows volume support at that area and will confirm a Zigzag ABC correction.
Order cancelled
Trade Idea Invalidated
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.