Injective

Bitcoin

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/injective-inj-altcoin-price-poised-for-rise/" data-wpel-link="internal">Injective (INJ) Altcoin Price Poised for Rise</a><br></p>
<p style="text-align: justify">The recent surge in cryptocurrencies has led to new targets being set for certain <a href="https://coin-turk.com/kirmizi-alarm-ethereum-eth-fiyati-duser-mi-ftx-ve-celsius-borsalara-milyonlarca-dolarlik-eth-tasiyor" data-wpel-link="internal">altcoins</a>, one of which is Injective (INJ). <strong>Injective</strong> (INJ) price has been consolidating for over two months and is now showing signs of a breakout. This anticipation could enable investors to achieve double-digit gains in the days ahead.</p> 
<h2 style="text-align: justify" id="altcoin-injective-inj-price-nears-breakout">Altcoin Injective (INJ) Price Nears Breakout</h2> 
<p style="text-align: justify">After more than two months of consolidation, the Injective price is close to surpassing the $31.09 to $43.40 range. INJ has formed three different lower high points within this range. Joining these swing points with a trend line indicates that the altcoin is facing significant selling pressure.</p> 
<p style="text-align: justify">However, the recent surge from <strong>cryptocurrency</strong> investors pushed the Injective price above this descending resistance trend line on February 27, resulting in a 13% rally. Interestingly, a liquidation event on March 5th brought INJ back down to retest this descending resistance level, confirming a successful conversion to a support base.</p> 
<p style="text-align: justify">Now, the Injective price is hovering just below the $43.40 high level and is attempting to overcome it. As <a href="https://coin-turk.com/4-kidemli-uzman-degerlendirdi-btc-ve-kripto-paralar-kisa-vadeli-yorum" data-wpel-link="internal">Bitcoin</a> enters a consolidation phase, altcoins are likely to break out. In such a scenario, INJ could trigger a breakout, potentially leading to a swift 17% rise to the $51 level. Given that this target is close to $50, INJ will naturally gravitate towards it, making it a highly probable level for the bulls.</p> 
<h2 style="text-align: justify" id="if-buying-pressure-continues">If Buying Pressure Continues</h2> 
<p style="text-align: justify">As long as the buying pressure continues, there is potential for the Injective price to rise to around $55. This represents an increase of up to 28% from its current value.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-324882 size-full alignright" src="https://coin-turk.com/wp-content/uploads/2024/03/inj-coin-turk-com-.png" alt="" width="1815" height="835"></p> 
<p style="text-align: justify">However, this bullish outlook is mixed with some uncertainty. If the altcoin Injective price closes below $34.15 in the upcoming twelve-hour candlestick, it could form a lower dip towards a lower level. This could invalidate the previous bullish prediction.</p> 
<p style="text-align: justify">In this case, it becomes likely that the altcoin INJ will return to the lower range of $31.09 or experience a 9% drop. Therefore, we are at a crucial decision point for investors. Finding a balance between the potential for price increase and the risk of a possible decline is emerging as an issue that needs careful monitoring.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/injective-inj-altcoin-price-poised-for-rise/" data-wpel-link="internal">Injective (INJ) Altcoin Price Poised for Rise</a></h5>

Injective (INJ) Altcoin Price Poised for Rise

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