Future

Injective

Token

Bull Market

Gold

<img width="1200" height="630" src="https://coingape.com/wp-content/uploads/2024/01/Injective-Price-Prediction-e1705662604782.png" class="attachment-full size-full wp-post-image" alt="Injective Price Prediction" decoding="async" style="float:right; margin:0 0 10px 10px;">
Injective price prediction: INJ is struggling to sustain support at $35 but the current technical structure appears to paint a grim picture likely to result in a sweep through liquidity at $30. Although the past few months were remarkable for the digital asset, the ongoing bearish outlook is the ultimate litmus test. 
Will Injective recover to explode past $50 or are sellers likely to emerge winners and trigger a massive sell-off? Despite the ongoing volatility, there is a sense of growing optimism regarding its short-term potential. 
<figure id="attachment_175339" aria-describedby="caption-attachment-175339" style="width: 100%" class="wp-caption aligncenter">
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 Source: <a rel="nofollow" href="https://www.tradingview.com/x/x9fG0kPZ/">Tradingview</a>
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</figure> 
At the time of this report, the Injective price has witnessed a notable decline of 5% in its market value. This minor setback occurs amidst a market environment leaning towards an expected bullish phase. This token is currently priced at $36.27. It boasts a market capitalization of approximately $3 billion, securing it the 28th spot in the cryptocurrency rankings by <a rel="nofollow" href="https://coinmarketcap.com/currencies/injective/">CoinMarketCap</a>. The 24-hour trading volume has surged by over 5, reaching $168 million. This increase suggests a rising interest in the token among buyers. 
<h2 id="span-style-font-weight-400-market-optimism-grows-for-injective-despite-recent-inj-price-volatility-span">Market Optimism grows for injective despite recent INJ price volatility</h2> 
Despite the recent dips, the past year has been remarkable for the <a href="https://coingape.com/what-next-for-injective-inj-price-after-a-60-weekly-surge/">Injective price.</a> It has soared by an impressive 2,313%, escalating from a low of $0.65 to an all-time high of $45 on January 9. Market analysts remain optimistic, foreseeing a bullish trend in the foreseeable future. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/search?q=%24INJ&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$INJ</a> / <a href="https://twitter.com/search?q=%24USD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USD</a> – Update 
 $31.00 level we still ned to remain above legends to be bullish short term <a href="https://t.co/OQG6wnGZhD">pic.twitter.com/OQG6wnGZhD</a> 
 — Crypto Tony (@CryptoTony__) <a href="https://twitter.com/CryptoTony__/status/1747980409592307845?ref_src=twsrc%5Etfw">January 18, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Despite trading above $31, renowned crypto analyst Crypto Tonny maintains a bullish outlook on the INJ’s future. He predicts a significant upturn post-current correction, indicating a robust Bull Market ahead that may extend for months. His perspective sees the impending rise as a sustained trend, not just a temporary boost, suggesting a promising long-term trajectory for the digital asset. 
<h2 id="span-style-font-weight-400-technical-analysis-indicates-bullish-future-for-injective-blockchain-token-span">Technical analysis indicates bullish future for Injective blockchain token</h2> 
A crucial juncture awaits <a href="https://coingape.com/markets/injective-price-prediction-dissecting-inj-bullish-outlook-to-70-as-token-unlock-beckons/">Injective</a> as it approaches the critical $40 resistance level. Overcoming this barrier might lead to substantial gains, potentially setting the stage for a rally towards $50. Once past this threshold, the digital asset could aim for the $55 resistance if the bullish trend continues. However, if the bearish pressure persists, a fall to the $30 support level, followed by a further drop to $25, is possible.&nbsp; 
The daily technical analysis reveals a potentially bullish trajectory for INJ despite a minor downturn observed recently. The Relative Strength Index (RSI), presently at a neutral 48, hints at an impending shift towards overbought conditions fueled by expected bullish momentum. The Chaikin Money Flow(CMF) stands affirmatively at 0.01, indicating a bullish trend.&nbsp; 
<figure id="attachment_175334" aria-describedby="caption-attachment-175334" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-175334 size-full" src="https://coingape.com/wp-content/uploads/2024/01/INJUSD_2024-01-19_14-02-09.png" alt="Injective price prediction chart" width="1149" height="751" srcset="https://coingape.com/wp-content/uploads/2024/01/INJUSD_2024-01-19_14-02-09.png 1149w, https://coingape.com/wp-content/uploads/2024/01/INJUSD_2024-01-19_14-02-09-300x196.png 300w, https://coingape.com/wp-content/uploads/2024/01/INJUSD_2024-01-19_14-02-09-768x502.png 768w, https://coingape.com/wp-content/uploads/2024/01/INJUSD_2024-01-19_14-02-09-150x98.png 150w" sizes="(max-width: 1149px) 100vw, 1149px">
 <figcaption id="caption-attachment-175334" class="wp-caption-text">
 Injective price chart: <a rel="nofollow" href="https://www.tradingview.com/x/8L5A7np7/">Tradingview</a>
 </figcaption>
</figure> 
Moreover, aligning the 20 Exponential Moving Average (EMA) and the 50-EMA adds to the optimistic sentiment surrounding the digital asset. These indicators collectively suggest a positive outlook, with the EMA trends particularly reinforcing the potential for an upward movement in the near future. 
<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-stability-31-bullish-trend-next-for-inj/">Injective Price Prediction As INJ Begins Bullish Comeback, Blastoff To $50 In The Offing?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Injective Price Prediction As INJ Begins Bullish Comeback, Blastoff To $50 In The Offing?

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