Convergence

Long

Injective

Bitcoin ETF

Divergence

<img width="1815" height="953" src="https://coingape.com/wp-content/uploads/2024/01/INJECTIVE.png" class="attachment-full size-full wp-post-image" alt="INJ" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/01/INJECTIVE.png 1815w, https://coingape.com/wp-content/uploads/2024/01/INJECTIVE-300x158.png 300w, https://coingape.com/wp-content/uploads/2024/01/INJECTIVE-1224x643.png 1224w, https://coingape.com/wp-content/uploads/2024/01/INJECTIVE-768x403.png 768w, https://coingape.com/wp-content/uploads/2024/01/INJECTIVE-1536x807.png 1536w, https://coingape.com/wp-content/uploads/2024/01/INJECTIVE-150x79.png 150w" sizes="(max-width: 1815px) 100vw, 1815px">
Injective price reflects a notable surge in the blockchain finance realm. The platform, tailored for financial applications, has seen its token, INJ, break past significant resistance levels at $35 and $40.&nbsp;
This increase follows a temporary downturn, but renewed buying interest has reignited its value. In the past year, INJ remarkably rose by over 1378%, climbing from around $1 to $40, showcasing its strong market presence and investor confidence.
<figure id="attachment_174868" aria-describedby="caption-attachment-174868" style="width: 100%" class="wp-caption aligncenter">
 <figcaption id="caption-attachment-174868" class="wp-caption-text">
 Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/chart/PpwAwjR5/?symbol=COINBASE%3AINJUSD">Tradingview</a>
 </figcaption>
</figure>
Injective price has recently shown a sideways movement over the past 24-hours, with its value at $40.39, a minor drop of 0.64%, indicating slight bearish trends. Despite this, INJ/USD grew by more than 8% over the past week, hinting at a bullish future. Currently ranked 25th on <a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/injective/">CoinMarketCap</a>, Injective boasts a market cap of $3 billion, reflecting a balanced market dynamic with potential for future growth.
<h2 id="strong-injective-price-prediction-can-inj-hit-50-in-january-strong">Injective Price Prediction: Can INJ Hit $50 In January?&nbsp;</h2>
Renowned crypto analyst Johnny forecasts a significant rise in Injective’s value. He predicts that <a href="https://coingape.com/what-next-for-injective-inj-price-after-a-60-weekly-surge/" rel="noopener noreferrer nofollow">INJ</a> could break through its resistance, potentially surpassing the $50 mark. This optimistic projection points to a substantial uptick in Injective’s market performance, suggesting a strong bullish trend in the near future.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24INJ&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$INJ</a> consolidation here likely leads to a move towards $50+ <a href="https://t.co/i4KzdBLAGe" rel="noopener noreferrer nofollow">pic.twitter.com/i4KzdBLAGe</a>
 — Johnny (@CryptoGodJohn) <a href="https://twitter.com/CryptoGodJohn/status/1747272062547480921?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 16, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
A pivotal moment looms for Injective as surpassing the $47 resistance barrier could potentially lead to significant gains. A successful breach above this level may pave the way for a push towards the $50 mark. If the bullish momentum sustains beyond $50, prospects of a surge up to the $55 resistance level emerge. Further advancements might propel INJ’s value towards a formidable $60 resistance point.
&nbsp;If <a href="https://coingape.com/markets/injective-price-prediction-dissecting-inj-bullish-outlook-to-70-as-token-unlock-beckons/" rel="noopener noreferrer nofollow">INJ</a> closed above $40 consecutively, we could see an uptick to $50 and more, while losing the same level as support might lead to an extended dip to $35 and lower.
<h2 id="strong-technical-indicators-support-bullish-outlook-for-injective-strong">Technical Indicators Support Bullish Outlook for Injective</h2>
The daily technical analysis reveals a bullish trend, as indicated by several key indicators. The Moving Average Convergence Divergence (MACD) is currently in a positive zone, with its line surpassing the signal line. This is further evidenced by a green histogram, signaling a strong buying pressure in the market. In addition, the Awesome Oscillator’s reading stands at a positive $1.26, reinforcing the bullish trend.
<figure id="attachment_174870" aria-describedby="caption-attachment-174870" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-174870" src="https://coingape.com/wp-content/uploads/2024/01/INJUSD_2024-01-17_19-56-36.png" alt="INJ" width="1149" height="652" srcset="https://coingape.com/wp-content/uploads/2024/01/INJUSD_2024-01-17_19-56-36.png 1149w, https://coingape.com/wp-content/uploads/2024/01/INJUSD_2024-01-17_19-56-36-300x170.png 300w, https://coingape.com/wp-content/uploads/2024/01/INJUSD_2024-01-17_19-56-36-768x436.png 768w, https://coingape.com/wp-content/uploads/2024/01/INJUSD_2024-01-17_19-56-36-150x85.png 150w" sizes="(max-width: 1149px) 100vw, 1149px">
 <figcaption id="caption-attachment-174870" class="wp-caption-text">
 INJ/USD 4-hour price chart, Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/chart/PpwAwjR5/?symbol=COINBASE%3AINJUSD">Tradingview</a>
 </figcaption>
</figure>
The Relative Strength Index (RSI) mirrors this optimistic sentiment, maintaining a level above 54. However, it’s nearing the overbought mark of 70, The upward trend of both the 50 Smooth Moving Average (SMA) and the 20-SMA on the daily chart also supports a bullish long-term outlook.
<h3 id="span-style-font-weight-400-related-articles-span">Related Articles</h3>
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The post <a href="https://coingape.com/markets/injective-price-prediction-is-steady-consolidation-prelude-to-inj-surging-past-50/" rel="noopener noreferrer nofollow">Injective Price Prediction: Is Steady Consolidation Prelude to INJ Surging Past $50?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Injective Price Prediction: Is Steady Consolidation Prelude to INJ Surging Past $50?

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