Injective

Show

Momentum

Million

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Injective price (INJ) slid 1.92% in the past 24 hours and is currently trading at $7.73.</a> </li> 
 <li> <span>2</span> <a>INJ crypto price struggles to rise above the 50-day EMA.</a> </li> 
 <li> <span>3</span> <a>The daily price chart witnessed the formation of an ascending parallel channel pattern.&nbsp;</a> </li> 
</ul> 
<p>Injective price witnesses the formation of an ascending channel pattern over the daily chart with the price trading at the lower boundary of the channel. The INJ price delivers a bullish outlook in the short term above the key exponential moving averages of 50-day and 200-day EMA.</p> 
<p>The INJ daily chart analysis elaborates that the crypto price had been in a short-term correction phase; suffering rejections from the 50-day EMA. Moreover, the price bounced back from the 200-day EMA to turn bullish in the short-term in mid-August and started forming higher highs thereafter.<br><br>The volume analysis shows that the Injective crypto price has a trading volume of $24.13 Million in the past 24 hours which is 13.57% more than the last day. The crypto has a market cap of $612.21 Million and ranks 54th in the crypto market. The volume to market-cap ratio is 3.90% indicating low volatility in the market.</p> 
<h2 class="wp-block-heading" id="strong-injective-price-forms-an-ascending-channel-pattern-strong"><strong>Injective Price&nbsp; Forms An Ascending Channel Pattern</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="456" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-351-1024x456.png" alt="Injective Price Prediction: Will INJ Crypto Price Crash Below $7?" class="wp-image-175149" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-351-1024x456.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-351-300x134.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-351-768x342.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-351-1536x684.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-351-750x334.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-351-1140x508.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-351.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: INJ/USD By <a href="https://www.tradingview.com/x/E9ff22G1/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/09/19/injective-protocol-crypto-will-inj-break-the-10-mark-in-2023/">Injective price</a> is currently trading at $7.73 with an intraday loss of 1.92%. The INJ price trades near the recent swing low and the lower boundary of the channel pattern. Now, the price may get support from the lower boundary of the channel and surge higher to resume the ongoing trend.&nbsp;</p> 
<p>Moreover, the breakdown below the channel pattern might trigger a selloff and the price might decline to the lower support levels. The breakdown of the channel may tilt the short-term trend in favor of bears.</p> 
<h3 class="wp-block-heading" id="strong-technical-indicators-show-bulls-losing-momentum-strong"><strong>Technical Indicators Show Bulls Losing Momentum</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="713" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-353.png" alt="Injective Price Prediction: Will INJ Crypto Price Crash Below $7?" class="wp-image-175153" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-353.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-353-300x134.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-353-1024x456.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-353-768x342.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-353-1536x684.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-353-750x334.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-353-1140x508.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: INJ/USD By <a href="https://www.tradingview.com/x/E9ff22G1/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>MACD lines are showing a bearish crossover. The histogram bars are being formed above the mean line of decreasing height, indicating the fading buyers’ momentum and how the price might show reversals in the upcoming sessions.&nbsp;</p> 
<p>The EMA analysis shows that the INJ price struggles to sustain above the 50-day EMA indicating the bulls losing control in the game. Moreover, the price trades above the 200-day EMA; indicating an optimistic trend prevailing in the long term.&nbsp;&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The Injective<a href="https://www.thecoinrepublic.com/2023/09/19/injective-protocol-crypto-will-inj-break-the-10-mark-in-2023/" target="_blank" rel="noreferrer noopener"> price</a> is in an ascending channel pattern and trading near the lower boundary. The price is above the 50-day and 200-day EMA, showing bullishness in the short term. The price may bounce from the channel support and resume the uptrend.&nbsp;</p> 
<p>It had $24.13 Million volume in the last 24 hours, a 13.57% increase from the previous day. The volume-to-market cap ratio is 3.90%, indicating low volatility. The prediction is bullish for the short term unless the channel breaks down.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $7.3 and $6.72</li> 
 <li><strong>Resistance Levels:</strong> $7.87 and $8.20</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Injective Price Prediction: Will INJ Crypto Price Crash Below $7?

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