need of a major liquidity pump
The Injective Protocol, after testing the $45 resistance multiple times, surpassed and reached $52.50 by mid-March 2024, from the major demand zone at $7.5, which generated nearly 650% gains from bottom to top in INJ crypto price.
The price deteriorated and built a lower low by mid-April, and has been retesting the major support at $20 in order to rise and capture the lost territories back.
Moreover, this week's price jumped 11.23% from $20 critical support and is trying to skyrocket. Despite the loss of more than 50% gains from the peak, the INJ ranked 42 on CoinMarketCap and has a considerable trading volume of more than $100 Million.
The INJ market looks to be in need of a major liquidity pump so that the price could rise; its current liquidity ratio appeared to be moderate.
At press time, the INJ traded at $23.05 with an intraday loss of -0.65%. The market looks primed for a rise in the coming sessions from the critical support. The near-time targets would be around $31, and $34, respectively.
However, failing to sustain above $20 could open the back door, and the pressure from bears could lead to lower supports at $15 and $12, respectively.
The indicators are bullish, as MACD forms a bullish cross, and RSI flashed at 46.88.
The price deteriorated and built a lower low by mid-April, and has been retesting the major support at $20 in order to rise and capture the lost territories back.
Moreover, this week's price jumped 11.23% from $20 critical support and is trying to skyrocket. Despite the loss of more than 50% gains from the peak, the INJ ranked 42 on CoinMarketCap and has a considerable trading volume of more than $100 Million.
The INJ market looks to be in need of a major liquidity pump so that the price could rise; its current liquidity ratio appeared to be moderate.
At press time, the INJ traded at $23.05 with an intraday loss of -0.65%. The market looks primed for a rise in the coming sessions from the critical support. The near-time targets would be around $31, and $34, respectively.
However, failing to sustain above $20 could open the back door, and the pressure from bears could lead to lower supports at $15 and $12, respectively.
The indicators are bullish, as MACD forms a bullish cross, and RSI flashed at 46.88.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.