Injective

<div class="dailyhodl">
 <p>A closely followed crypto strategist thinks that one Ethereum (ETH)-based altcoin is about to soar against Bitcoin (BTC).</p>
 <p>Pseudonymous analyst The Crypto Dog tells his 750,500 followers on the social media platform X that the decentralized exchange protocol Injective (INJ) is looking bullish on the INJ/BTC trading pair chart.</p>
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 <p><em>“Incredibly bullish structure.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GD6q3PnbYAA1p2e?format=jpg&amp;name=4096x4096" alt="Image" width="1135" height="2106">
  <figcaption class="wp-caption-text">
   Source: The Crypto Dog/X
  </figcaption>
 </figure>
 <p>Looking at his chart, the trader suggests that INJ/BTC could soon flip a key resistance level into support, after failing to do so on two prior attempts in recent days.</p>
 <p>On October 16th INJ/BTC closed at 0.0002737 BTC ($7.80) and is now at 0.0009446 BTC ($40.75), a gain of approximately 245%.</p>
 <p>The trader also says that Injective looks like it is on the verge of a breakout after a period of consolidation in the high $30s and low $40s range.</p>
 <p><em>“INJ looks like another winner to come this week. Been consolidating here longer than expected, but it’s been just a matter of time.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GD52vcWaUAECdOB?format=jpg&amp;name=4096x4096" alt="Image" width="1136" height="2106">
  <figcaption class="wp-caption-text">
   Source: The Crypto Dog/X
  </figcaption>
 </figure>
 <p>The trader also predicts that the fan engagement token Chiliz (CHZ) is about to undergo a trend reversal.</p>
 <p><em>“I took a CHZ position. Looks ready to break this two-year-long downtrend, big gains to be made if it does. Strong project, unique fundamentals, always been a fan. One of the first to merge the real world with crypto.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GD8CZUyaIAAhyME?format=jpg&amp;name=4096x4096" alt="Image" width="1136" height="2104">
  <figcaption class="wp-caption-text">
   Source: The Crypto Dog/X
  </figcaption>
 </figure>
 <p>Chiliz is trading for $0.106 at time of writing, up nearly 17% in the last 24 hours.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-based-altcoin-that-s-surged-245-in-three-months-looks-incredibly-bullish-versus-bitcoin-says-trader-tbt76825.html">https://thebittimes.com/ethereum-based-altcoin-that-s-surged-245-in-three-months-looks-incredibly-bullish-versus-bitcoin-says-trader-tbt76825.html</a></p>

Ethereum-Based Altcoin That’s Surged 245% in Three Months Looks ‘Incredibly Bullish’ Versus Bitcoin, Says Trader

TheBitTimes

Other articles published on Jan 17, 2024

Reddit User Loses $250,000 in ETH to Crypto Airdrop Scam — How Can Investors Stay Safe?

How much you could make or lose mining Bitcoin in 2024

Sei Network Price Prediction As Rocket-Fast Breakout To $1 Catches Momentum

Flare (FLR) Price Prediction 2024, 2025, 2026-2030

Ripple Halts IPO Plans Due to SEC Crypto Crackdown, XRP Price Lackluster

Tether bites back on UN report criticism

Join our free newsletter for daily crypto updates!