Crypto Price Prediction For January 1: 1INCH, FIL, KLAY
The short-term trend in the cryptocurrency market is currently sideways, with many major cryptocurrencies showing indecisiveness. However, three tokens, namely 1INCH, FIL, and KLAY, have seen a double-digit jump in the last 24 hours, indicating a potential recovery.
The global cryptocurrency market capitalization currently stands at $1.66 trillion, with a slight decline of 0.21% from the previous day. The total trading volume has increased by 2.87% in the last 24 hours, reaching $45.35 billion.
1INCH:
Over the past 20 months, the 1INCH token has been experiencing a consistent downtrend within a descending channel pattern. However, the token has shown at least two significant rebounds from these trendlines. In mid-October, buyers initiated a strong comeback, leading to a 117% increase in price over three months. Currently trading at around $0.51, the 1INCH price might aim for targets of $0.6, $0.7, and $0.91. The Average Directional Index Slope indicates sufficient momentum for an aggressive rally.
FIL:
Filecoin (FIL) has been in an 18-month accumulation phase within a symmetrical triangle pattern, consistently holding above the $2.5 level. In late October, the token gained momentum and experienced a 113% rise over 75 days, reaching $7.3. On December 31st, Filecoin broke out of the triangle pattern, suggesting the beginning of a new uptrend. A recent 5.75% surge further supports this breakout, indicating a potential increase of 30% targeting prices of $9.5 and $11.4.
KLAY:
The Klaytn (KLAY) coin price has been on a recovery trend since late September 2020, starting from a low of $0.107 and reaching a new yearly high at $0.278, marking a significant 158% rise. Although there has been a slight retracement to around $0.23 due to market volatility, this pullback is within the bounds of the Fibonacci Retracement Level, suggesting that Klaytn may soon resume its upward trajectory. A double-bottom reversal pattern has emerged on the daily chart, indicating a potential 62% increase towards the neckline resistance at $0.37. The 50 EMA slope is providing support for further price growth.
Overall, the short-term predictions for 1INCH, FIL, and KLAY indicate potential price increases. However, as with any investment, it is important to conduct thorough research and consider market conditions before making any financial decisions.