⚡️ Market / Price Context
1INCH has broken above its prior descending trendline on the 4H timeframe, a shift that has opened the door to a new bullish ABC corrective structure. This breakout marks a notable change in short-term market structure, suggesting buyers are attempting to reclaim control after an extended downtrend.
📈 Chart Explanation
Price is currently consolidating within wave (b), taking extended time to build a base before any potential continuation. For the ABC pattern to remain technically valid, price needs to break decisively above the highlighted resistance zone. This level acts as the structural line in the sand, until it's cleared, the pattern remains unconfirmed.
📈 Outlook
A confirmed break above the blue resistance zone would validate the start of wave (c), opening room toward higher resistance levels. Until that breakout occurs, 1INCH remains in a consolidation phase, with the current range acting as the decision point for the pattern's next leg.
