The 1inch token ($1INCH) experienced a price explosion early Monday morning, soaring by over 37%.

This impressive pump is continuing the altcoin momentum sparked by XRP’s legal victory last week.

As 1inch surges, several other coins are also showing bullish price action – a sign of upbeat market sentiment propelling the crypto market.

$1INCH Explodes Higher as Bulls Take Over

According to CoinMarketCap data, $1INCH is now trading at $0.432, with the token boasting a market cap of $415 million.

Over $672 million worth of $1INCH was traded in the past 24 hours – a 214% increase from the previous day.

This increased interest has also resulted in a considerable uptick in unique wallet addresses holding $1INCH.

Not only that, but data from Etherscan.io reveals several large buy and sell orders in the past few hours – some valued at over $10,000.

Delving into the technicals, the recent $1INCH surge has propelled the price above the 20-day and 50-day Exponential Moving Averages (EMAs).

However, price has stalled just below the crucial 200-day EMA – an indicator that hasn’t been breached

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Author: Petar Jovanovic

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