CandleFocus INJ Price Bounces Back: Can Bulls Drive It Back To $20 Next?
2024-09-12
Author: Content Editor
The Injective (INJ) crypto price has experienced significant volatility in the last two weeks, retesting support at $15 before bouncing back. It has shown a follow-on buying momentum, with hopes of reaching the $20 mark and spreading gains. The INJ token has shown stability and crossed the 20-day EMA mark, indicating bullish strength. It is currently trading at $18.01 with a market cap of $1.77 billion. Technical indicators suggest bullish potential, with the RSI at 50 and the MACD presenting a bullish crossover. If the INJ price successfully breaks above the trendline at $22, it could rally towards $25. Active address data and velocity line fluctuations indicate increased investor confidence and trading activity. The GIOM indicator shows that 30% of holders are making money and the Futures Open Interest data suggests traders are anticipating a price surge. Overall, it is seen as a lucrative short-term buying opportunity, with $15 as immediate support and $20 and $22 as resistance levels to watch.
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