1INCH - The Most ‘Superb’ DeFi Protocol! - Kakiforex.com - Financial Market Media No. 1 in the World 1INCH - The Most ‘Superb’ DeFi Protocol! 1INCH - The Most ‘Superb’ DeFi Protocol!
InstaForex

June 16, 2021

1INCH - The Most ‘Superb’ DeFi Protocol!

 1INCH is a decentralized exchange aggregator (DEX) launched in 2019 by Sergerj Kunz and Anton Bukov that aims to highlight Ethereum -based token trading such as LINK, AAVE and UNI.


This 1INCH network is also a decentralized protocol in Ethereum, Binance Smart Chain (BSC) and Polygon which allows for the most profitable, fastest and protected operational journey in DeFi.


In addition, this 1INCH project is capable of linking several DEX into one platform to allow users to find an easy way to exchange and the best price for exchange across all platforms.


1INCH users will have access to PancakeSwap, BurgerSwap, StreetSwap, Venus, StableSwap, JulSwap, BakerySwap and several DEX in Binance and other lending protocols.


Based on the 1INCH/USDT chart, last week it can be seen that the 1INCH price movement did not succeed in maintaining the uptrend to break the SBR (support become resistance) level of $ 4 before falling back above the support level around $ 2.5.


Yet entering the market opening this week, the 1INCH price movement has made a jump of over 40% to re -test the SBR $ 4 level.


If the price manages to break the SBR level of $ 4, it is likely that a higher price increase will lead to the next SBR level around $ 5.50 to signal a clearer trend change.



With the expectation of the surge as well, indirectly it will give a strengthening momentum to the 1INCH price to head back to the all -time high (ATH) level around $ 7.80.


If the price movement does not manage to maintain the bullish trend, the support level around $ 2.30 will be the re -focus level to be tested and indicates that the price movement is still in a horizontal pattern (sideway).


At the $ 2.30 support level, investors will be assessing whether the level is able to support the price spike again or see the price continue to decline.


The lower decline is expected to head back to the next support level around the $ 1.50 price, and hitting that level will also be the 5 -month low recorded.


As of 4.00 pm local time, the 1INCH price continues to show a jump of over 2% to trade at the price level around $ 3.80.