Dawn often comes after the darkest night. It seemed that when there was little hope, the situation instantly changed for the better. A similar scenario worked on the 1INCH cryptocurrency chart. Analyzing the price movement on a weekly timeframe, we can see that buyers showed character for the first time in 5 months. Prior to that, the 1INCH price spinelessly fell to $1.18. Of course, buyers tried to change the situation, but in the weekly timeframe, their initiative was not consolidated. During the week of 14 March, buyers were able to absorb almost three previous ones with one candle. At the same time, trading volumes were slightly increased. Of course, the closing of the weekly candle on 14 March with a fairly large pin indicates a high concentration of sellers in the market. https://www.tradingview.com/x/8qp5Mtd2/ However, the very fact of such a movement authoritatively insists on the idea of changing the initiative in the 1INCH market. After testing the $1.18 mark, sellers touched the global trend line for the third time since May 2021. This trend line does not allow sellers to accelerate the downward trend. In the previous two cases of the test of this trend line, the 1INCH price jumped sharply at least 100%. Given the fact that during the week of 14 March the price of 1INCH rose by 33%, the probability of continued growth by another 60%-70% is quite high. The first critical point in the way of buyers is the $1.9-$2 ra...
