1INCH — Last Firewall Before All-Time Low1INCH has been one of the most disappointing coins for the last few years. The token reached an incredible high of almost 8 USD back in 2021 before crashing completely. Currently, 1INCH trades at 26 cents ‼️
Moreover, the token printed one bearish pattern after the other. Just recently, it broke below the neckline of a head and shoulders pattern. As a result, the token dropped another 25% to its current level.
The level between 23 and 25 cents represents the last firewall before 1INCH would be sent to its all-time low. The coin was here previously. Already at the end of 2023, 1INCH consolidated in this area before recovering to a level of 70 cents.
Therefore, I would watch this level closely. If it holds and we enter a bullish market phase, 1INCH could reverse from here and pump. Since the token has proven that it can still move towards 1 USD quickly, the current level represents an interesting accumulation zone.
On the other hand, a break below the last firewall should send 1INCH to a new all-time low and probably much lower.