Injective

The post <a href="https://coinpedia.org/price-analysis/injective-price-struggles-to-break-out-of-its-key-level-is-a-break-down-imminent/" rel="noopener noreferrer nofollow">Injective Price Struggles To Break Out Of Its Key Level! Is A Break Down Imminent?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The Injective price has turned out to be one of the top gainers of the industry this year by recording a massive price, resulting in the price adding over 1310% in its value YTD.
Following the price pump in October, the INJ price gained significant movement in its value. The price experienced a jump of approximately 37% before facing rejection at $12.672. The price was then seen trading sideways for a while. After that, the bulls regained momentum, but the price faced rejection at $13.735.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/WRs3KvoaJESv_93s-0ITsy2M34UbAsg19NYc_OJqB4SPmnIVz4WMhRE7ZDx9PxF5WDMIzZWoBLAJ2dmTZsh4HoEqamzw3uouom_CmktMHlQGKYjAbXP8-YlHAMpc8vprWACsFyBiG8Z3elr2u3icRcM" alt="Injective Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: INJ/USDT
 </figcaption>
</figure>
Following this, the price traded in a consolidated range between $12.672 and $13.735. The injective price then recorded significant volatility in its price and recorded a jump of approximately 30% in value. After that, the price faced rejection at $17.913.
The price was then seen trading sideways for a while. After multiple failed attempts to break out the bulls, lost momentum and fell to retest its support level of $15.00. The bulls quickly regained momentum and successfully broke out of their key resistance level at $17.913.
Following this, the price hovered close to its resistance level of $17.913 for a while. After that, the price started training under a bearish influence and was seen retesting its lower support level of $15.00. Since then the price has been trading under a consolidated range between $15 and $17.913.
<h2 class="wp-block-heading" id="h-will-inj-price-ragain-value">Will INJ Price Ragain Value?</h2>
The MACD displays a rising green histogram, indicating massive buying and selling pressure in the market. Further, the averages show a bullish convergence, suggesting the price will gain significant value in the coming month.
If the bulls push the price above its key resistance level of $17.913. the INJ price will regain momentum and prepare to test its upper resistance level of $19.158. Further, if the market holds the price at that level, the Injective price will continue to gain value and make a run to test its high of $20 in the coming week.
Conversely, if the bears overpowered the bulls, the price would lose momentum and fall to test its support level of $16.343. Moreover, if a trend reversal occurs, the price will plunge further and prepare to test its low of $15 by the next week.

Injective Price Struggles To Break Out Of Its Key Level! Is A Break Down Imminent?

Mục lục

CoinPedia News

Các bài viết khác được xuất bản trên 30 thg 11, 2023

Short squeeze alert for December 1: Two cryptocurrencies with potential to skyrocket

Dogecoin leads amid market correction, pumps meme crypto cap

Celsius Opens Withdrawal Options for Eligible Cryptocurrency Investors

AI Portrait Generators: Next-Gen Technology for Art and Photography

Galaxy’s Novogratz predicts Bitcoin reaching $70k with ETF approval

Canadians Prefer Existing Payment Methods over CBDC, Survey Finds

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!