Token

altFINS

Injective

Coin

<p>Popular crypto analyst <a href="https://twitter.com/CryptoMichNL/status/1776270067430482289?t=z8JBzFTfNbe6eSCopxityA&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Michaël van de Poppe</a> has highlighted a critical support level for Injective Protocol’s INJ token that must hold to prevent a massive sell-off. According to Van de Poppe’s chart, INJ has already endured a deep 40% correction and needs to maintain the current price zone to avoid a potential decline towards $17.50.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="553" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-279-1024x553.png" alt="" class="wp-image-469102" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-279-1024x553.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-279-300x162.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-279-767x414.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-279-1536x829.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-279-2048x1106.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-279-278x150.png 278w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-279-100x54.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-279-648x350.png 648w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-279-788x425.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-279.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>“This is one for $INJ. Deep correction, down around 40%. Needs to hold here, in order to prevent a potential dip towards $17.50. I think we will, through which these type of dips are always the ones you’d be seeking for with #Altcoins,” he stated in a tweet.</p>
<p>Corroborating this analysis, researchers at blockchain data analytics firm altFINS pointed out that the critical support zone for INJ is around $30. A breakdown below this level could trigger a precipitous drop exceeding 30% to the $20 area.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-280-1024x573.png" alt="" class="wp-image-469110" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-280-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-280-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-280-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-280-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-280-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-280-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-280-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-280-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-280-788x440.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p>
<p>From a technical perspective, altFINS’ evaluation suggests INJ’s price is in a long-term uptrend but has recently faced selling pressure in the short and medium timeframes. This is evidenced by the downward trajectory of momentum indicators like the MACD and RSI.</p>
<p>“Price is in an uptrend. Following a bullish breakout from a Descending Triangle, price has resumed its uptrend. It briefly broke above $50 resistance but got rejected and pulled back on some profit taking by traders,” altFINS stated.</p>
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<p>The analysts recommend waiting for INJ to retreat towards the $30 support for a potential swing trade entry, with an upside target of $40 – representing over 30% gains from the entry point. A protective stop loss is advised around $27 in case the support crumbles.</p>
<p>Key resistance levels highlighted are $40, followed by $45 and the recent high around $50 which capped INJ’s latest rally attempt.</p>
<p>While the long-term trajectory remains skewed to the upside, analysts warn that a loss of the $30 foothold could severely undermine the bullish structure. Market participants will be closely monitoring INJ’s price action around this make-or-break support zone in the coming sessions.</p>
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<p>The post <a href="https://captainaltcoin.com/injective-protocols-inj-token-at-risk-of-over-30-dip-if-crucial-support-crumbles/" rel="noopener noreferrer nofollow">Injective Protocol’s INJ Token at Risk of Over 30% Dip if Crucial Support Crumbles</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Injective Protocol’s INJ Token at Risk of Over 30% Dip if Crucial Support Crumbles

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