Injective

<ul><li>Injective (INJ) experiences a sharp 35% decline, touching the 100-day EMA, a significant event not seen in the past six months.</li><li>INJ’s price trajectory still suggests a long-term uptrend, but the sustainability of the $50 support level remains uncertain.</li><li>INJ&#39;s market performance lags, marking a 17.29% drop over the week, underperforming both the broader crypto market and L1 category.</li></ul>In a week that saw significant downturns for many digital assets, <a href="https://cryptotale.org/?s&#61;Injective" rel="noopener noreferrer nofollow">Injective</a> (INJ) experienced a substantial decrease in its market price. The asset underwent a steep price correction of about 35%, a move that prompted it to retest the 100-day exponential moving average (EMA)—a critical technical indicator not touched in six months. Despite the jarring short-term decline, technical analyst Jelle indicates that the primary trend, a foundational market structure, still stands firm.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/71d168ce270f44ecb36a33893029fb59.png" />The recent trading patterns for INJ have shown a stark series of red candlesticks, denoting closing prices lower than opening ones within selected time frames. However, a silver lining appears as the underlying trendline, drawn across the valleys of the price points, suggests an ascending trajectory. This pattern of &#39;higher lows&#39;—each low point being above the preceding one—implies resilience in the asset&#39;s valuation over the long term.<a href="https://cryptotale.org/injective-inj-faces-a-tough-week-amid-broader-market-trends/" rel="noopener noreferrer nofollow">Read full article at CryptoTale.</a>

Injective (INJ) Faces a Tough Week Amid Broader Market Trends

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