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To ensure clients get the best deals, 1inch collates and aggregates token prices across several decentralized exchanges to find the most efficient swapping routes. 1inch uses over 60 liquidity sources for Ethereum, over 30 liquidity sources for Binance, and over 30 for Polygon, Optimistic Ethereum, and Arbitrum to find the best price.
Despite a saturated market, the 1inch Network has already built over 2.7 million wallets and completed over 17 million trades.
So, what does this mean for the 1inch price prediction? Here is our prediction for the next few weeks.
An Overview of 1inch Price Prediction
We expect a powerful and promising technology like 1inch Network to have astronomical value and growth. But unlike other asset classes, 1inch Network is difficult to predict and is prone to market fluctuations. We made the best estimate of 1inch Network’s future value and growth.
We forecast 1inch Network (1inch) to trade as high as and as low as last month, based on the average price of 1inch Network (1inch). According to 1inch Network’s overall growth last month, it grew by 0%.
1inch Network (1inch) is expected to continue its bullish stance as we predicted in the previous months (November). In the immediate future, 1inch Network could peak at $1.23 from its current price of $0.567.
At the beginning of March 2023, we predict that 1inch Network’s price will grow by -$11.72% based on its price fluctuations.
There is a possibility that the price will rise by up to $115.59% during mid-March. We expect that 1inch will grow by $99.79% by the end of the month.
A Technical Analysis of the 1inch Price Prediction
By February 11, 2023, we predict 1inch Network Token’s value to rise by 10.06% and reach $0.625637. Our technical indicators show a neutral sentiment, while the Fear & Greed Index shows 56 (Greed).
Over the past month, 1inch Network Token recorded 22/30 (73%) green days with 9.94% price volatility. According to our forecast, now is an excellent time to buy a 1inch Network Token.
As of February 06, 2023, 19 technical analysis indicators showed bullish signals, while 10 showed bearish signals.
A simple moving average (SMA) of 200 days is currently below 1inch Network Token. As of 5 February, 2023, the 200-day SMA is signaling SELL. Since January 12, 2023, the 1inch Network Token price has been below the 50-day SMA, signaling a SELL signal.
1inch Network Token’s 200-day SMA could drop next month, reaching $0.569863 by March 08, 2023, according to our technical indicators. By March 8, 2023, 1inch Network Token’s short-term 50-Day SMA is expected to reach $0.646302.
We predict 1inch to cost $0.49 in February 2023, including $0.70, up to $1.24 at the maximum. In March 2023, the 1inch Network will cost $0.50, including $1.14, and $1.23 at its maximum.
Why is 1inch a Unique Investment?
Among the crucial features of the 1inch Network include the 1inch Limit Order, the 1inch Wallet, and the 1inch Aggregation Protocol. A unique feature of the 1inch Network is its level of auditing to guarantee users’ security. Besides SlowMist and CoinFabrik, various auditing companies audit 1inch smart contracts.
Is it Worth Investing in 1inch?
The investment process is highly personal. Keep up with any developments on the 1inch Network that might boost the prospects of the 1inch crypto price prediction. Consider your risk tolerance, expertise in this market, the spread of your portfolio, and how comfortable you are with losing money before deciding.
The past performance of cryptocurrencies is never an indicator of future success. Always invest what you can afford to risk and lose.
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- Source: https://insidebitcoins.com/news/1inch-network-token-will-grow-by-10-06-reaching-0-63-by-february-11
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