1inch (1INCH) price prediction: after a pullback of over 40%, retesting key support, on-chain indicators suggest a potential rebound.

1INCH experienced a 40.7% depth pullback from mid-July to early August, falling from $0.391 to $0.232. However, despite the technical indicators still appearing weak, 1INCH is re-testing the $0.24 support area, which was converted from the May resistance level. On-chain data shows that the accumulation trend is strengthening, and investors can follow potential reversal opportunities.

Price pullback to important support zone From July 13 to August 2, the price of 1INCH fell over 40%, but it still maintains a bullish structure on higher time frames. The current price has pulled back to the $0.24 area, which was a key resistance in May, and has recently been successfully tested as support, which is a positive signal for long-term investors and may constitute a buying opportunity at a low level.

Technical indicators remain bearish, market sentiment is cautious Although the price shows support signals, the main technical indicators have not turned in sync. The Chaikin Money Flow (CMF) is -0.26, indicating strong selling pressure in the past two weeks; the A/D indicator has remained almost flat over the past ten days, suggesting that the market selling pressure is not as severe as indicated by the CMF; the MACD supports the bearish structure, showing that the downward momentum is still present.

(Source: TradingView)

Social sentiment is low, but on-chain behavior shows positive changes According to AMBCrypto analysis, since late July, the sentiment around 1INCH on social media has mostly been negative. On August 3, the funding rate briefly turned negative, indicating strong bearish sentiment in the derivatives market. At the same time, the decline in open interest also reflects a cautious attitude from short-term speculators.

(Source: Santiment)

Average coin age recovery reveals network-level accumulation Despite the gloomy sentiment, the on-chain Mean Coin Age has been continuously rising since mid-July. The previous sharp decline in Mean Coin Age suggested that a large number of tokens were moved or profits were taken, while the data from the past two weeks indicates that investors are beginning to accumulate 1INCH again, providing important support for a potential reversal.

Bitcoin's trend may affect the development of short-term trends If Bitcoin has bottomed around $112,000, the market is expected to welcome an overall rebound. As one of the mainstream DEX tokens, 1INCH is likely to benefit from this. Therefore, investors should closely follow the short-term trend of BTC and its impact on the recovery of 1INCH.

Conclusion: Although the technical indicators still appear weak, the defense of the $0.24 key support level and the accumulation signs in on-chain data are building a foundation for a rebound in 1INCH. As market sentiment gradually improves, 1INCH may become the next focal point.