**Key Takeaways**
**Why is 1INCH up today?**
The price of 1INCH rose due to significant team purchases, increased network activity, and large whale orders.
**Will the breakout hold?**
The altcoin could maintain its bullish momentum only if it manages to stay above the $0.20 level.
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The price of 1inch (1INCH) surged by more than 29% following a large purchase made by the project’s team on Binance. However, as of writing, these gains had cooled down to a 17% increase after an immediate rejection at levels just above $0.20.
The team’s buy was not the sole driver of this surge; heightened network activity also contributed to the price push.
### Key Catalysts Behind the Trend
Data from Arkham indicates that the 1INCH team’s investment fund executed a $5 million buy order on Binance at around $0.15, pushing the token’s price back above $0.20 — a roughly 29% increase.
The organization has historically made similar strategic investments. Past data shows their actions played a role in driving the price from $0.24 to $0.53 late last year. Whether continuous purchase volume can sustain further price increases remains uncertain.
In addition to the team’s buy, there was a notable surge in network activity. The number of transactions jumped from 1,000 to 4,800 within the past day, reflecting strong interest and usage.
Active addresses also increased from 324 on November 2nd to 551 at the time of writing, directly correlating with the upward price movement.
### What’s Needed for the Price to Sustain?
On the charts, the 1INCH price reversed sharply from $0.15 and briefly broke above $0.20, though the upward momentum did not hold. Despite this, technical indicators like the MACD remain bullish.
The Money Flow Index (MFI) was trading above 82, indicating buyer dominance. However, the relatively small size of price bars suggests limited buying strength, which could explain why the rally was not sustained.
Looking ahead, maintaining an uptrend will require 1INCH to hold above the $0.20 support level to target a move towards $0.30.
Bulls may have hesitated due to the failure to break through key resistance. Conversely, if the price falls below the $0.15 support, a decline toward $0.10 — the low from the October 10th crash — could occur.
The immediate rejection above $0.20 might also indicate profit-taking by the team.
### Buyers Eye the Upper Levels
According to CoinGlass data, cumulative long liquidation leverage slightly exceeded that of shorts by approximately $790,000, suggesting buyers currently have control even amid weakening price action.
The liquidation heatmap highlights $0.1897 as a crucial level with the highest concentration of liquidations in the past 24 hours. Capturing this liquidity could improve the chances of the price reclaiming and sustaining levels above $0.20.
The strongest liquidity cluster above stands at $0.2260. Conversely, there is minimal liquidity below the current price, indicating fewer support orders.
### Conclusion
1INCH’s recent price surge was largely driven by the team’s sizable purchase and increased network activity. However, the lack of a clear structural breakout leaves the price action looking uncertain.
For a sustained upward move, the token needs to demonstrate a decisive break above resistance levels and maintain solid support above $0.20. Traders and investors should watch these key levels closely to gauge the next phase of 1INCH’s price trajectory.
https://bitcoinethereumnews.com/tech/5m-bet-lifts-1inch-29-will-bulls-hold-the-0-20-line/