1INCH price up 15% as BTC gains: what’s driving 1inch higher? – Crypto News – Crypto News
Connect with us
1INCH price up 15% as BTC gains: what’s driving 1inch higher? 1INCH price up 15% as BTC gains: what’s driving 1inch higher?

Cryptocurrency

1INCH price up 15% as BTC gains: what’s driving 1inch higher? – Crypto News

Published

1 year ago

on

  • 1inch price performance amid market recovery
  • The 1INCH token has spiked 15% in the past week amid Bitcoin’s rise to above $95k.
  • Could a key 1inch Investments Fund development help 1INCH price higher?

The 1inch Network token (1INCH) has seen an impressive 15% surge over the past week, reaching $0.2089 as of April 28, 2025.

According to CoinMarketCap data, this includes a nearly 4% spike in the past 24 hours.

It’s an upward movement that aligns with a broader crypto market recovery, currently seeing Bitcoin (BTC) hover above a key level.

As 1inch price looks to break higher, other altcoins such as Casper are rallying.

Meanwhile, BTC is bidding for an uptick towards $100k – the psychological level that could buoy altcoins in the short term.

Currently, Bitcoin price sits around $95,218, up 1.9% in the past 24 hours and nearly 10% in the past week.

With the overall market sentiment seeing bulls take charge, it’s altcoins like 1INCH that could ride a wave of positive momentum to go parabolic.

Why is 1INCH surging today?

As noted above, 1inch price has traded higher amid Bitcoin’s spike to above $95k.

It’s an overall outlook that could continue to dictate bulls’ performance.

However, a likely key driver behind 1INCH’s price surge is the strategic moves by 1inch’s Investment Fund.

According to Spot On Chain, the fund recently rotated profits from Wrapped Bitcoin (WBTC) into $1INCH.

The fund has sold 70.76 WBTC for 6.68 million USDC and then used 1.05M USDC to buy back 5.23 million 1INCH at the average buy price of $0.199.

This move signals strong confidence in 1INCH’s future value, especially given the fund’s historical success in trading its own token. Previously, 1inch achieved a 118% profit from trading.

Additional tailwinds for 1INCH may have come from 1inch’s announcement of a new mobile wallet feature.

This recent update, which enhances web3 accessibility, might be a key driver of 1inch adoption, increasing demand for the native 1INCH token.

1INCH price prediction

From a technical perspective, 1INCH shows promising signs for continued growth.

The Relative Strength Index (RSI) currently sits around 65, indicating that the token is nearing overbought territory but still has room before hitting extreme levels above 80.

This suggests sustained buying pressure, though traders should watch for potential pullbacks if RSI climbs higher.

1inch chart by TradingView

 

Meanwhile, the Moving Average Convergence Divergence (MACD) displays a bullish crossover.

As can be seen in the chart above, the MACD line is above the signal line and has a positive histogram, reinforcing the upward trend.

The price is also hugging the upper Bollinger Band. Based on this, $1INCH could target $0.24 in the short term, a level it previously reached in 2024. If this happens, bulls may eye new highs.

However, if overbought conditions trigger profit-taking, a dip to $0.18 might occur as a key support level.

Share this article
Categories
Tags

Related Topics:
Continue Reading

Trending