With the release of its Aggregation Protocol v1, 1inch Network is one of the networks that has contributed to the overall growth of decentralized finance. Moreover, it calls itself the “one-stop access to decentralized finance.” The 1inch Network has grown over the years by developing various products to match the users desired wants. The network also claims to optimize the users’ trades across hundreds of Decentralized Exchanges (DEXs) on multiple networks.
Naturally, potential investors and individuals would be curious about 1INCH’s price performance over the years. If you are interested to learn about 1INCH’s price analysis and forecast for the years 2023, 2024, 2025, 2026, 2027, and 2050, read this Coin Edition price prediction article.
What Is 1inch Network (1INCH)?
As the website describes, the 1inch Network connects various decentralized protocols whose synergy enables “the most lucrative, fastest, and protected operations” in the DeFi space by offering access to hundreds of liquidity sources across multiple chains.
Launched in 2019, the 1inch network started with the release of its Aggregation Protocol v1. Ever since, the 1inch Network has grown and developed various DeFi tools such as the Liquidity Protocol, Limit Order Protocol, P2P transactions, and 1inch Mobile Wallet.
Moreover, the 1-inch protocols are deployed across the Ethereum Virtual Machine (EVM) networks: Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, Gnosis Chain, Avalanche, Klaytn, Aurora, zkSync Era, and Fantom.
When it comes to the stakeholders, the 1 inch Network consists of three distinct groups of stakeholders: the 1inch Foundation, the 1inch core contributors, and the 1inch DAO. 1inch explained that all these stakeholders working together helps in the growth of 1inch Network in a decentralized manner.
The 1INCH token, an ERC-20 governance and utility token, helps in empowering the 1inch Network. Although its “primary purpose” was facilitating governance rights to participants of the 1inch DAO, the 1INCH token also provides utility functions such as staking and delegating to 1inch Resolvers.
According to the token distribution model, 30% of the total token supply would go to community incentive programs. Meanwhile, 14.5% would be utilized as growth and development funds, issuing grants and incentivizing developers for building on 1inch protocols. Finally, the remaining balance of the tokens would go to backers and core contributors.
Analysts View on 1inch Network (1INCH)
The popular web3 data analytics platforms noted that one of the investors deposited 7 million 1INCH tokens into Binance after a sudden surge was observed. This could be attributed to a whale’s strategy of selling it during its bullish run. Although the sale of the tokens could affect the prize, whales trading with 1INCH shows that the token has probably caught the attention of various traders.
In 2020, the CEO of Binance Changpeng Zhao also observed another 1INCH surge. Zhao shared a picture of a 1INCH/USDT 5-minute chart from Binance where the tokens observed another spike from the $0.2 level to the $3.08. This could be an indication that 1INCH’s price could fluctuate massively based on the market condition and the updates of the network.
Another crypto analyst under the pseudonym “Crypto Tony” made a speculation that if 1INCH makes the 0.41 level into support on the 3-day timeframe chart, it could experience a spike.
1inch Network (1INCH) Current Market Status
At the time of writing, 1INCH is now trading at $0.4761 with a total market capitalization of $452,081,504. 1INCH sits in 85 place on CoinMarketCap in terms of market capitalization. Moreover, there has been a price change of 17.90% surge in the past 24 hours. 1INCH’s 24-hour trading volume is $639,549,161 with a spike of 310.46%.
1INCH can be traded on major cryptocurrency exchanges such as Binance, Coinbase KuCoin, Kraken, OKX, and Uniswap.
1inch Network (1INCH) Price Analysis 2023
Will 1INCH’s most recent improvements, additions, and modifications help its price rise? Moreover, would the changes in the blockchain industry affect 1INCH’s sentiment over time? Read more to find out about 1INCH’s 2023 price analysis.
1inch Network (1INCH) Price Analysis – Bolinger Bands
The Bollinger Bands is a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilizes the time period and the stand deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.
Looking at the charts, 1INCH’s market experienced a significant amount of volatility creating opportunities for price surges as well as falls. Checking past price movements, 1INCH faced a long-time price correction which caused the candlesticks to trade near the lower band of the Bollinger Bands. The lower Bollinger Band is often considered oversold and most of the time traders speculate that the candlesticks would experience a price correction.
After some time, the candlesticks started to move into the upper half of the Bollinger and begin hitting the upper band. This also triggered another set of motions for 1INCH. The candlesticks started to face retracement which once again led 1INCH into the bottom half of the Bollinger Band.
Bollinger Band Width signals that the bands may continue to expand as the BBW is moving upwards. Moreover, 1INCH experienced a significant surge as its intra-day high crossed beyond the $0.59 level. There is still a chance that the token could fall after experiencing a major spike since it coursed the upper band.
1inch Network (1INCH) Price Analysis – Relative Strength Index (RSI)
The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is regarded as the overbought region, and traders expect the price could fall soon.
The RSI is valued at 75.08, which is the overbought region. One of the reasons behind this overbought momentum could be because of the recent surge and buyers entering the market to take advantage of this opportunity. When assets enter the overbought region, traders speculate that prices may drop over time as part of its price retracement. However, the RSI is still facing upwards which could be an indication that 1INCH would remain in the overbought region for some time before facing a downfall.
1inch Network (1INCH) Price Analysis – Simple Moving Average (SMA)
Initially, the candlesticks were trading below the 50SMA and the 200SMA, which could be considered as a bearish trend. Moreover, the death cross formed earlier confirmed that 1INCH seems to be experiencing bearish momentum. After the formation of the death cross, the gap between the 200SMA and the 50SMA could drastically increase over time. However, after the major spike event, there is a chance that the gap may reduce, hence, forming a golden cross.
1inch Network (1INCH) Price Analysis – Moving Average Convergence Divergence (MACD)
The Moving Average Convergence Divergence (MACD) indicator can be used to identify potential price trends, momentums, and reversals in markets. MACD will simplify the reading of a moving average cross easier. The MACD indicator is calculated by subtracting the long-term EMA (Exponential Moving Average) indicator from the short-term EMA. Normally, the default values for the MACD are set at 12-day EMA, 26-day EMA, and 9-day EMA. Moreover, MACD is considered a lagging indicator as it cannot provide trade signals without any past price data. MACD plays an important role as it can confirm the trends and identify potential reversals.
Looking at the indicator, the MACD indicator is above the signal line, which could be a bullish signal. Moreover, the green bars continue to form on the histogram, indicating that the bullish signal could continue for some time. However, traders and whales may expect a trend reversal after the major spike event. 1INCH’s fall could be confirmed after selling pressure is also noticed in the market. Ultimately, traders need to wait for the signal.
1inch Network (1INCH) Price Prediction 2023 – 2030 Overview
The 1INCH/USDT 1-Day Chart shows that candlesticks’ wicks surged beyond the resistance level, however, closed below the 200SMA. In order for 1INCH to reach the resistance level, the candlesticks should cross beyond the 200SMA level. Currently, the candlesticks faced a slight fall due to the aftereffects of an overbought spike. Moreover, there is a high chance that the candlesticks would begin their ascend toward the 200SMA. It is expected that 1INCH once again regain its previous price position near the Resistance level after crossing the 0.5 level.
Meanwhile, the price prediction of 1INCH for 2023 remains to be bullish and is expected to reach beyond the level of $0.7. The bearish price prediction range for 1INCH is between $0.2591 to $0.2776. However, if 1INCH experiences extreme bullish sentiment, then it would reach the $1 level.
The candlesticks recently bounced away from the Support level after experiencing a spike. If 1INCH experiences a bullish period, it has the potential to reach its extreme bullish area at the $1 level. 1INCH has the potential to reach resistance level 3 at the $1.2 level if it continues to experience a bullish period. When 1INCH passes through each Resistance, each level could become a new Support level.
1inch Network (1INCH) Price Prediction 2024
Traders are looking forward to this year as it could be a historic moment for cryptocurrencies, as the Bitcoin halving is expected to happen in 2024. Most of the time, whenever BTC rises, traders have observed a similar surge in the altcoins. 1INCH could also be affected by Bitcoin halving and could trade beyond the price of $3 by the end of 2024.
1inch Network (1INCH) Price Prediction 2025
1INCH could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, 1INCH will continue to rise in 2025 forming new resistance levels. It is expected that 1INCH would trade beyond the $6 level.
1inch Network (1INCH) Price Prediction 2026
It is expected that after a long period of bull run, the bears would come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, 1INCH could tumble into its support region of $5. Moreover, when 1INCH remains in the oversold region, there could be a price correction soon. 1INCH, by the end of 2026, could be trading beyond the $7 resistance level after experiencing the price correction.
1inch Network (1INCH) Price Prediction 2027
Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. 1INCH is expected to rise after its slumber in the bear season. Moreover, 1INCH could even break more resistance levels as it continues to recover from the bearish run. Therefore, 1INCH is expected to trade at $9 by the end of 2027.
1inch Network (1INCH) Price Prediction 2028
Once again, the crypto community is looking forward to this year as there will be a Bitcoin halving. Alike many altcoins, 1INCH will continue to form new higher highs and is expected to move in an upward trajectory. Hence, 1INCH would be trading at $11 after experiencing a massive surge by the end of 2028.
1inch Network (1INCH) Price Prediction 2029
2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market would gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, 1INCH could be trading at $14 by the end of 2029.
1inch Network (1INCH) Price Prediction 2030
After witnessing a bullish run in the market, 1INCH and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, 1INCH could be trading at $17.
1inch Network (1INCH) Price Prediction 2040
The long-term forecast for 1INCH indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their tokens at the ATH point. However, 1INCH may face a slight fall before starting its upward journey once again. It is expected that the price of 1INCH could reach $24 by 2040.
1inch Network (1INCH) Price Prediction 2050
The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, 1INCH could surpass the resistance level of $45.
Conclusion
To summarize, if investors continue to show interest in 1INCH and add these tokens to their portfolio, then, it could continue to rise up. 1INCH’s bullish price prediction shows that it could pass beyond the $1 level in 2023. Moreover, 1INCH could surpass the $45 level by the end of 2050.
