Sam_TCR

INJ is currently trading

Long
COINBASE:INJUSD   Injective Protocol
The price of Injective token began to show a bullish trend in October 2023, rising from $7.75 and forming a pattern of higher highs and higher lows. This upward movement continued until it reached a resistance level of $52.10 on March 12th.

During its upward movement, INJ encountered resistance at $44, making three unsuccessful attempts to break through before finally surpassing this level and reaching $52.10. Despite this achievement, the price was unable to sustain its peak and gradually declined. By mid-May 2024, INJ had established a new support level at $21.0.

Currently, there are indications of a potential recovery for INJ, with the downward momentum ceasing and bullish sentiment emerging to establish an upward trendline.
Additionally, the Injective (INJ) token has shown signs of a forthcoming rise. Although the EMA (50-day and 200-day) indicate a bearish trend, the MACD indicator shows a bullish crossover, with the histogram expanding at 0.168. The RSI stands at 56.09, recovering from near-oversold conditions.

INJ is currently trading at $26.65, having experienced a slight 0.47% dip in the last 24 hours. The market sentiment remains positive, and if investor interest persists, the price may rebound from its current level. The next targets for INJ are $31.2 followed by $36.0.

However, failing to hold above the $22.10 support could lead to further price declines.
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