INJ/USD
Injective token exhibited a bullish trend starting from October 2023, with its price climbing from $7.75 and forming a series of higher highs and lows. This upward trajectory continued until it encountered a supply level at $52.10 on March 12th.
During its rise, INJ faced resistance at $44, where it made three unsuccessful attempts to break through. However, on the fourth try, it successfully surpassed this level, reaching $52.10.
Despite this achievement, the price could not maintain its peak as selling pressure intensified, leading to a gradual decline. By mid-May 2024, INJ had established a new support level at $21.0.
Presently, there are indications of a potential recovery for INJ, as the downward momentum has ceased and bullish sentiment seems to be resurfacing, aiming to establish an upward trendline.
Concurrently, the Injective (INJ) token has also showed signs of an impending rise. Despite bearish EMA, the MACD indicator suggests a bullish crossover, with its histogram expanding to 0.187. The RSI was at 49.06, recovering from near-oversold conditions.
Currently, INJ is trading at $25.34, after experiencing a slight dip of 1.59% in the last 24 hours. The market sentiment remains positive, and if investor interest continues, the price may rebound from its current level. The next targets for INJ are $31.0 followed by $35.0. However, if Injective cannot hold above the $22.0 support, there is a possibility of further price declines.
During its rise, INJ faced resistance at $44, where it made three unsuccessful attempts to break through. However, on the fourth try, it successfully surpassed this level, reaching $52.10.
Despite this achievement, the price could not maintain its peak as selling pressure intensified, leading to a gradual decline. By mid-May 2024, INJ had established a new support level at $21.0.
Presently, there are indications of a potential recovery for INJ, as the downward momentum has ceased and bullish sentiment seems to be resurfacing, aiming to establish an upward trendline.
Concurrently, the Injective (INJ) token has also showed signs of an impending rise. Despite bearish EMA, the MACD indicator suggests a bullish crossover, with its histogram expanding to 0.187. The RSI was at 49.06, recovering from near-oversold conditions.
Currently, INJ is trading at $25.34, after experiencing a slight dip of 1.59% in the last 24 hours. The market sentiment remains positive, and if investor interest continues, the price may rebound from its current level. The next targets for INJ are $31.0 followed by $35.0. However, if Injective cannot hold above the $22.0 support, there is a possibility of further price declines.
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