INJ Soars to All-Time High, Is Correction near? (injective Price Analysis)
INJ surprised the market with an all-time high of $27.6. It is interesting to explore the possibility of a correction at this pace and alternatively check which are the next targets of the cryptocurrency.
Key Support levels: $23
Key resistance levels: $28, $32, $40
1. Big Bang
With a new ATH set, Injective is now in uncharted territory which could see it rise quickly. Buyers have dominated the list all year and there is no end in sight.
Chart by TradingView
2. Key Goals to Follow
Based on this price action, the most important targets on the chart right now are $28, $32, and $40. There could also be a brief correction before the rise continues to the breakout point near $23, which also acts as support.
Chart by TradingView
3. MACD Bullish Momentum Intensifies
This breakout left the weekly MACD extremely bullish as the histogram and moving averages turned bullish. This strong momentum hasn’t been seen since the last bull market.
Chart by TradingView
Prejudice
INJ’s trend is upward.
Short Term Forecast for INJ Price
After this breakout, volatility may increase and INJ may continue its rise by targeting $28 and then $32.
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Cryptocurrency charts from TradingView.
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