Several on-chain metrics of 1inch have also registered positive signs lately. For instance, 1inch’s MVRV Ratio noted an uptrend after hitting a bottom in late August, suggesting a further spike in price over the coming days. Moreover, the recent price hike was also backed by high volume, increasing the legitimacy of the surge.’s exchange reserve also fell, which is a positive sign as it indicates lower selling pressure.
However, like the RSI, several other metrics were also not in favor of 1inch’s price surge. The total transfer volume and active addresses went down by 83% and 19%, respectively – A bearish signal. On top of that, 1inch’s total exchange netflows were also high compared to the 7-day average – A sign of higher selling pressure. Therefore, a possibility arises of bears gaining an advantage in the market, which might restrict 1inch from moving north in the short-term.’s 4-hour chart also painted an ambiguous picture as the market indicators underlined both possibilities. On one hand, the 20-day EMA was slightly above the 50-day EMA – A bull sign.
Though the developments in the 1inch ecosystem look promising, most of the on-chain metrics and market indicators suggest that a short-term bull rally is pretty unlikely.Subscribe to get it daily in your inbox.