Exploding with the mobility in DeFi projects, 1inch Network ( 1NCH), faced a huge sell-off in the last 24 hours.
Lately DeFi interest in projects is increasing. Coins related to this area have attracted attention with their short-term upside movements. Even 1NCH has performed more than 100 percent in the last week. However, the decline that started on the BTC side naturally affected DeFi-based cryptocurrencies. The most depreciating coin of the last 24 hours 1NCHsuffered a loss of 62.10 percent.
1inch Network (1INCH) Graphics Evaluation
Exploding with the passing of $ 0.366, 1NCH finally broke the resistance of 0.553 and managed to exceed $ 0.59. However, due to the $0.59 resistance being a critical area, it faced selling pressure. 1NCH, which currently has 0.366 buyers, could release it to $0.297 – $0.272 and $0.235, respectively, if it loses this support area.
BTC holding above $30,000 or positive news from DeFi will push the 1NCH price higher. In this scenario, the resistance points that can be active for 1NCH are 0.412 – 0.439 – 0.491 – 0.546 and 0.593 dollars, respectively. In particular, $0.491 could be one of the determining factors in the price structure.
