Injective

<ul><li>Injective faces a potential price shift with $150M INJ tokens unlocking on January 21, risking increased supply and market volatility.</li><li>Technical indicators like RSI and MACD hint at a bearish trend for INJ ahead of the major token unlock event later this month.</li><li>INJ price could drop to $31 if bearish sentiment prevails post-token unlock, challenging support levels and market stability.</li></ul>According to a recent <a href="https://finbold.com/injective-set-to-unlock-150-million-in-tokens-whats-next-for-inj-token/#:~:text&#61;Injective%20%28INJ%29%20had%20an%20impressive,partially%20locked%20in%20vesting%20contracts." rel="noopener noreferrer nofollow">analysis</a>, the Injective (INJ) network is bracing for a significant market event with the upcoming release of approximately $150 million worth of INJ tokens. This development, scheduled for January 21, is poised to introduce heightened volatility in the cryptocurrency&#39;s price, marking a pivotal moment for investors and market analysts alike.Token unlocks are critical events in the cryptocurrency realm, often viewed with a bearish outlook. These occurrences lead to an increase in the asset&#39;s supply, which, coupled with unchanged demand, typically results in a decrease in value. For <a href="https://cryptotale.org/?s&#61;Injective" rel="noopener noreferrer nofollow">Injective</a>, the release of 3.67 million INJ tokens, which represents 4.33% of the total supply, could significantly influence market dynamics. The majority of these tokens are allocated to the network’s advisors and team, introducing potential selling pressure into the market.Since December 20, INJ&#39;s price has been fluctuating within a defined range, marked by $31.00 and $43.51. This pattern indicates a consolidation phase, which could narrow due to the expected increased volatility. Technical indicators such as the Bollinger Bands and the Relative Strength Index (RSI) suggest a bearish trend. The RSI is trending downwards, indicating declining momentum, and the Moving Average Convergence Divergence (MACD) has moved below its signal line, further supporting the possibility of a downturn.Read full article at<a href="https://cryptotale.org/injective-token-unlock-event-a-catalyst-for-market-volatility/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Injective Token Unlock Event: A Catalyst for Market Volatility

CryptoTale

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