Market Overview for 1inch/Tether (1INCHUSDT)

• Price declined from $0.2672 to $0.2446 amid increasing bearish momentum.
• RSI below 30 suggests oversold conditions, but a bounce remains uncertain.
• High volume during early ET bearish swings confirms distribution.
• Volatility expanded as price moved inside widening Bollinger Bands.
• Fibonacci 61.8% support at $0.2525 may offer short-term floor.

1inch/Tether (1INCHUSDT) opened at $0.2601 (12:00 ET − 1), reached a high of $0.2672, and a low of $0.2442 before closing at $0.246 at 12:00 ET. Total 24-hour volume amounted to 7,680,883.3 1INCH tokens, with a notional turnover of approximately $1,941,060. The pair showed a bearish bias, with a sharp correction developing after a brief bullish breakout.

Structure & Formations

Price formed a bearish engulfing pattern around $0.265 and later developed a series of inside bars near key support levels. A doji appeared near $0.250, suggesting indecision. The structure revealed a strong breakdown from a prior consolidation range, with support levels identified at $0.2525 (61.8% Fib) and $0.2475 (38.2% Fib). Resistance levels include $0.260 and $0.2645, with the former showing frequent rejection.

Moving Averages

On the 15-minute chart, price closed below the 20-EMA ($0.2495) and 50-EMA ($0.2502), suggesting short-term bearish bias. Daily MAs (50-EMA: ~$0.2555; 100-EMA: ~$0.2585; 200-EMA: ~$0.2605) confirm the bearish trend as price remains below all three. The 50–200 MA crossover remains negative, reinforcing the downtrend.

MACD & RSI

MACD turned negative after a brief bearish crossover, with the histogram shrinking as momentum slowed. RSI is near oversold territory (28), but price failed to form a bullish divergence, making a bounce speculative. Momentum appears to be decelerating, particularly after the $0.250 support level was tested.

Bollinger Bands

Volatility increased with Bollinger Bands expanding, and price traded within the lower 1σ band for much of the day, confirming oversold conditions. The bands acted as a price anchor, with the 20-period band width hitting ~1.5%, indicating a potential reversal could follow.

Volume & Turnover

Volume spiked during the early ET bearish move, particularly in the 17:30–19:30 ET window, confirming the breakdown. However, recent volume has declined, and the price has failed to push below $0.2470 despite increased turnover. A divergence is forming where price continues to fall but volume declines, hinting at potential exhaustion or a counter-trend bounce.

Fibonacci Retracements

Fib levels from the $0.2442–$0.2672 swing show critical support at $0.2525 (61.8%) and $0.2475 (38.2%). A rebound off $0.2525 could test $0.2585 (23.6%), while a break below $0.2475 may trigger a test of $0.2442 and then $0.2425. Resistance remains at $0.250 and $0.2525, with a move above $0.2605 (200 MA) required for a reversal.

Backtest Hypothesis

A potential backtest strategy involves entering a short position on a close below the 50-EMA on the 15-minute chart, with a stop above the 20-EMA and a target at the 61.8% Fib support. This aligns with the current price action, where the bearish MA crossover and key Fibonacci levels offer defined risk and reward. A long entry could be considered on a confirmed close above the 50-EMA with RSI above 50, though the current setup favors the short side.