INJ still some (but little) upside

Short

INJ / TetherUS (BINANCE:INJUSDT)

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BINANCE:INJUSDT INJ / TetherUS

trendanalysis supportandresistance trendline crypto inj injusdt cryptocurrency

INJUSDT has seen an explosive move upwards. Accelerated downtrend line (orange line) was broken and leaves still around 15% of upside until the next big resistance is reached.

Normally, we would expect price to retrace after reaching 3,05-3,75 USDT area as the main down trend is still active.

Longs make sense only once the down trend line is broken and retested.

Commentaire:

INJ not bothered about resistance.. so far. Now facing trendline. It would be key for it to break it strongly.

Commentaire:

Level & Trend line acting as expected. Price could not break through. Falling deeply below 3 USDT would trigger the short idea seeking for a reversal to 1,12-1,41 USDT level.
Bulls should wait for the trendline to be broken prior to opening further long positions.

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