The 1INCH token has shown a significant rise, reaching $0.39 following a prolonged consolidation period, which has attracted trader interest.
1INCH Token Price Surge
The price of the 1INCH token surged to $0.39 after breaking out of a long-standing consolidation range between $0.16–$0.18, supported by strong trading volume.
Reaching $700B DEX Volume
This price surge coincided with a significant milestone for the 1inch ecosystem. On July 15, the 1inch team announced that the DEX aggregator, 1inch Swap, had exceeded $700 billion in total trading volume.
Risks and Technical Analysis
Despite the strong rally, a bearish divergence has emerged between price action and the RSI. While the price of 1INCH has printed three consecutive higher highs, the RSI has formed three lower highs, signaling waning momentum.
The current price remains above the short-term support zone of $0.30-0.32, suggesting potential for further growth, although risks of correction exist if it falls below this level.
