Market Overview for 1INCH/Tether (1INCHUSDT) – 24-Hour Analysis

• Price advanced from 0.1740 to 0.1776 on strong buying pressure in the afternoon session.
• RSI showed momentum divergence after midday, suggesting possible overbought conditions.
• Volatility expanded as price moved out of a consolidation range, with Bollinger Bands widening.
• A bullish engulfing pattern formed at 0.1755–0.1752, indicating potential short-term reversal strength.
• Turnover surged to $12.8M by 19:00 ET, confirming breakout validity but raising near-term reversal risks.

1inch/Tether (1INCHUSDT) opened at 0.1745 on October 24 at 12:00 ET, reached a 24-hour high of 0.1797, and closed at 0.1776 by 12:00 ET October 25. The total traded volume amounted to 1,147,640.5 units, with $12.8 million in notional turnover. A strong breakout confirmed by volume expansion and a bullish engulfing pattern suggests potential continuation, but RSI divergence hints at near-term profit-taking.

Structure & Formations

Price found key support at 0.1740 and tested resistance at 0.1776, which became a consolidation level. A bullish engulfing pattern formed at 0.1755–0.1752, confirming short-term bullish momentum. A strong bearish divergence emerged in the late evening session as volume waned while price continued to decline, suggesting a potential reversal.

Moving Averages

On the 15-minute chart, the 20-period MA (0.1758) and 50-period MA (0.1761) are closely aligned, reflecting a strong upward bias. The 50-period MA on the daily chart (0.1749) appears to offer dynamic support. Price has held above both moving averages in recent sessions, reinforcing bullish signals.

MACD & RSI

MACD remained positive throughout the session, with a peak of 0.00055 at 20:00 ET. RSI rose above 70, entering overbought territory, which may trigger profit-taking or a pullback. A bearish divergence in the late-night session suggests caution ahead.

Bollinger Bands

Volatility expanded significantly as price moved out of a tight consolidation range. Price closed near the upper band at 0.1776, suggesting overbought conditions. A contraction is expected if price stabilizes near current levels.

Volume & Turnover

Volume surged to 289,783.5 units at 19:00 ET as price broke out of a consolidation phase, confirming the move. Turnover spiked to $12.8M during this breakout, aligning with the price action. Divergence emerged in the evening as price fell below 0.1780 with declining volume, signaling potential exhaustion.

Fibonacci Retracements

Fibonacci levels derived from the 0.1740–0.1797 swing indicate key levels at 38.2% (0.1768) and 61.8% (0.1784). Price is currently hovering near 61.8%, which could either act as resistance or provide a continuation signal if volume confirms strength.

Backtest Hypothesis

A backtesting strategy based on the Bullish Engulfing pattern could be implemented to evaluate its effectiveness in the 1INCH/USDT pair. Given the formation at 0.1755–0.1752, a long signal would be triggered at the close of the engulfing candle. If confirmed with strong volume, a 3-day holding period might offer potential for profit, depending on market sentiment and broader market dynamics. However, the RSI divergence and declining volume in the later hours suggest that such signals may need additional confirmation to avoid false breakouts.