Rally

Filecoin

Klaytn

Crypto Price Prediction: The Short-term trend in the <a href="https://coingape.com/crypto-market-in-2024-unraveling-key-developments-that-will-shape-the-year/" rel="noopener noreferrer nofollow">cryptocurrency market</a> is currently sideways as a majority of major cryptocurrencies continue to waver in uncertainty. However, despite this indecisiveness tokens like 1INCH, FIL, and Klay showcased a double-digit jump in the last 24 hours resuming their prevailing recovery.
The worldwide cryptocurrency market capitalization currently stands at $1.66 trillion, reflecting a slight decline of 0.21% from the previous day. Meanwhile, the total trading volume in the crypto market has witnessed a 2.87% rise over the last 24 hours, amounting to $45.35 billion.
<h2 id="b-is-1inch-price-rally-heading-to-0-7-b">Is 1inch Price Rally Heading to $0.7</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/t/T9Il1EYw.png" alt="1inch Price" width="1946" height="937">
 <figcaption class="wp-caption-text">
 1inch Price| TradingView Chart
 </figcaption>
</figure>
For the past 20 months, the <a href="https://coingape.com/shib-1inch-ldo-reign-supreme-in-smart-money-token-inflow-list/" rel="noopener noreferrer nofollow">1inch token</a> has been experiencing a consistent downtrend within a descending channel pattern. Market observers have been closely monitoring this pattern, as the token’s price has demonstrated at least two significant rebounds from its parallel trendlines.&nbsp;
In mid-October, despite broader market trends, buyers initiated a strong comeback as the price bounced back from a local low of $0.23. This surge led to an impressive 117% increase in the 1Inch price over three months, with the current trading level at around $0.51.
This rally was marked by a bullish departure from the long-established <a href="https://coingape.com/glossary/parallel-channel-pattern/" rel="noopener noreferrer nofollow">channel pattern</a>, suggesting a potential trend reversal. Moving forward, the 1inch price might aim for targets of $0.6, $0.7, and $0.91.&nbsp;
The Average Directional Index Slope, currently at 17%, indicates that buyers have sufficient momentum to sustain an aggressive rally.
<h2 id="b-filecoin-fil-price-escapes-500-day-barrier-to-chase-11-4-b">Filecoin(FIL) Price Escapes 500-Day Barrier to Chase $11.4</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/p/PPuxZYaq.png" alt="Filecoin(FIL) Price" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Filecoin(FIL) Price| TradingView Chart
 </figcaption>
</figure>
Filecoin(FIL) has been in an 18-month accumulation phase within a symmetrical triangle pattern, consistently holding above the $2.5 threshold. The token gained momentum in late October, rebounding from a local support of $3.12.&nbsp;
This recovery led to a 113% rise in the <a href="https://coingape.com/price/klaytn/" rel="noopener noreferrer nofollow">Filecoin price</a> over 75 days, reaching $7.3. This rally was further bolstered by a breakout from the triangle pattern on December 31st, hinting at the beginning of a new uptrend.&nbsp;
A recent 5.75% surge further supports this breakout, indicating a strong inclination for a continued rally. The expected trajectory could see a 30% increase, targeting prices of $9.5 and then $11.4.&nbsp;
The bullish momentum is also evident in the Filecoin price’s interaction with the upper boundary of the Bollinger Bands indicator
<h2 id="b-bullish-pattern-set-klaytn-klay-price-rally-beyond-0-4-b">Bullish Pattern Set Klaytn(KLAY) Price Rally Beyond $0.4</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/h/hQ0KnPSL.png" alt="Klaytn(KLAY) Price" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Klaytn(KLAY) Price| TradingView Chart
 </figcaption>
</figure>
The <a href="https://coingape.com/price/klaytn/" rel="noopener noreferrer nofollow">Klaytn coin price</a> has been on a recovery trend since late September 2020, starting from a low of $0.107. This rebound led to a significant 158% rise, marking a new yearly high at $0.278.&nbsp;
Although the bullish trend remains intact, recent market volatility has caused a slight retracement in the KLAY price to around $0.23. This pullback is within the bounds of the Fibonacci Retracement Level, suggesting that Klaytn may soon resume its upward trajectory.
Notably, a double-bottom reversal pattern has emerged on the daily chart, which could propel the KLAY coin price by another 62% toward the neckline resistance at $0.37.&nbsp;
A breakout from this pattern would further confirm a trend reversal. The 50 <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">EMA</a> slope is providing robust support, reinforcing the potential for Klaytn’s continued price growth.
&nbsp;
The post <a href="https://coingape.com/markets/crypto-price-prediction-today-january-1-1inch-fil-klay/" rel="noopener noreferrer nofollow">Crypto Price Prediction For January 1: 1INCH, FIL, KLAY</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Price Prediction For January 1: 1INCH, FIL, KLAY

Table of Contents

Coingape News Media

Other articles published on Jan 1, 2024

$560m worth of crypto tokens to unlock this month

2023 in Review: The Remarkable Bull Runs That Defined the Crypto Market

Tether Crowned 10th Largest Bitcoin Holder with Strategic $1.1 Billion Profit Play

Ethereum’s Four-Digit Price Prediction by Analysts Melker and Davis

Goldman Sachs Expects Crypto Market to Explode in 2024 as Traditional Institutions Enter

Project Diamond: Coinbase’s RWA Platform Regulated in Abu Dhabi

Join our free newsletter for daily crypto updates!