Injective (INJ) Infuses Adrenaline With Double-digit Gain, Is $2.5 Feasible?
14 Septiembre 2022 - 11:52AM
NEWSBTC
Injective Protocol (INJ) has had a tough time seeing its price shed
over 90% from its all-time high of $24.8 against tether (USDT).
Despite recently seeing a huge pullback in the crypto market,
Injective Protocol (INJ) continues to show immense strength,
racking up double-digit gains. (Data from Binance) Related Reading:
NEAR Bulls Charge Their Way Past $4.7 Amid Lack Of Spike In Volume
Injective Protocol (INJ) Price Analysis On The Weekly Chart
INJ saw a decline in its price from $24.8 to around $0.9, with an
over 90% drop from its all-time high despite having good
fundamentals. The price of INJ bounced off after touching a weekly
low of $0.9, and the price rallied to $1.7, showing some great
strength. The price of INJ on the weekly chart needs to build more
volume as the price is faced with resistance at $1.9, unable to
trend higher. INJ’s price needs to break out with good volume for
the price to have a good chance of trading higher above $1.9 and
possibly to a region of $2.5. INJ must break and hold above
the resistance at $1.9 to form a support for the price of INJ to
have a chance to trend higher. If the price of INJ fails to break
this resistance region, we could see the price retesting the lower
weekly region of $1, acting as a good buy zone to push the price of
INJ higher and to hold the sell-off. Weekly resistance
for the price of INJ – $1.9. Weekly support for the price of INJ –
$1. Price Analysis Of INJ On The Daily (1D) Chart The daily
timeframe for INJ prices looks choppy as prices continue to range
with little volume to break out of this range. The price of INJ
needs to break out of this range with good volume for the price to
trend to $2.5. A break and close above the range channel prevents
the price of INJ would be flipped into support and would be good
for INJ price to rally to a region of $2.5. On the daily timeframe,
the price of INJ is currently trading at $1.6, holding above the 50
Exponential Moving Average (EMA), acting as support for INJ
price. The Relative Strength Index (RSI) for INJ is at 50 on
the daily chart, indicating low buy order volume. Daily
resistance for the INJ price – $1.9-$2.5. Daily support for the INJ
price – $1. Onchain Analysis Of INJ Despite still being backed by
many investors and partnerships, INJ has seen a tremendous drop
across all boards, including price, volume, market circulation, and
market dominance, due to the bearish sentiments across the crypto
market. Related Reading: Ravencoin (RVN) Records 90% Increase,
Community Warns About Price Speculation Featured Image From zipmex,
Charts From Tradingview and Messari
Ravencoin (COIN:RVNUSD)
Gráfica de Acción Histórica
De Sep 2024 a Oct 2024
Ravencoin (COIN:RVNUSD)
Gráfica de Acción Histórica
De Oct 2023 a Oct 2024
Real-Time news about Ravencoin (Criptodivisas): 0 recent articles
Más de Ravencoin Artículos de Noticias