The current market situation surrounding 1INCH is one for the technical traders. The price-tag of the coin behind the pioneering decentralized exchange aggregator, 1inch Network, has struggled in 2022 among the majority of crypto assets amidst market demise across the majority of sectors.

1INCH has found its bottom by $0.38 in December of 2022, which also represents the coin’s all-time low. Its value has robustly grown in the first months of the year, driven by a resurgence in bullish behavior in cryptocurrencies, paired with 1inch Network’s robust fundamentals.

After recently entering a consolidation phase, its price is currently struggling between the $0.4 to $0.5 range, and as seen on the chart, 1INCH price activity and volatility have effectively diminished following testing of the 4-hour resistance zone. 1INCH buyers are eyeing to breach the next resistance zone by the $0.90 mark.

The current price of $0.523 is in the realm of a symmetric triangle, which may indicate that 1INCH traders may need to be a little more patient before making the choice between going long or short. Cryptocurrencies are recovering, which may suggest that the bull-bear power is more on the buyers’ side. Yet, 1INCH may dwindle further alongside other altcoins if major cryptocurrencies take another hit in the coming weeks.