1INCH/USDT: Bullish : Direct rise expected---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------
1INCH/USDT: Bullish : Direct rise expected
Context
- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets 1INCH suffered about negative global market situation.
- However we are focus on a direct rise now on this coin and we expect a fast and quick recovery regarding technical elements provided by the interpretation of the Elliott waves.
Market configuration
- Graphical Elements :
Graphical Resistance = 1,78 & 7,67
Graphical Support = 0,48 & 0,20
- Mathematical Indicators:
EMA ( Exp Moving averages) are still capping the market at 0,92 = Bearish
RSI indicator (below) is bouncing off key support = Bullish
- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target C (B) has been already reached = 0,57
Fibonacci resistance of the wave in progress = 0,92
Fibonacci support of the wave (c) (B) (max extension) = 0,48
Fibonacci Bullish Target = 1,32
Conclusion
Preferred case => Regarding the mid-term element, 1INCH is offering the perfect entry area for DCA or short-term recovery as long as 0,48 remains a support area valid, a break above 0,92 will confirm a rise to 1,32
Alternative cae => breaking below 0,48 - direct drop to 0,20
