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<p>Technical analysts are keeping a close eye on two major cryptocurrencies this week after the formations of promising bullish chart patterns pointed to potential rallies ahead.</p>
<p><a href="https://twitter.com/WorldOfCharts1/status/1776519848899825846?t=khpxLupk0VLZyrHKaahqeQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">World Of Charts</a>, a popular crypto chart analysis account on X, highlighted that Injective (INJ) has confirmed a breakout from a falling wedge pattern. A falling wedge is a bullish technical formation where the price action makes lower highs and lower lows, with the contracting range indicating a potential trend reversal to the upside once broken.</p>
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<p>“$INJ Falling Wedge Breakout Has Already Confirmed. Expecting Solid Bullish Wave In Coming Days. #INJ Can Test $50-55,” World Of Charts stated in their tweet.</p>
<p>Injective is a decentralized finance protocol focused on building an interoperable layer for derivatives trading. At the time of the tweet, INJ was trading around $34. A rally to the $50-55 area would represent potential upside of roughly 50-60% from those levels.</p>
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<p><a href="https://twitter.com/WorldOfCharts1/status/1776331316373627133?t=P3_9ApIWWbM1Q5WWru86Ug&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">The analyst</a> also flagged a bullish pennant breakout for Litecoin (LTC) on the hourly chart time frame. A pennant is a continuation pattern marked by periods of contracting volatility followed by a breakout, with the directional bias determined by the preceding trend.</p>
<p>“$LTC #LTC Breaking Bullish Pennant In Hourly Timeframe. In case of Breakout Expecting 20-25% Bullish Rally,” they tweeted.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="580" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-312-1024x580.png" alt="" class="wp-image-469482" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-312-1024x580.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-312-300x170.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-312-768x435.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-312-1536x870.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-312-2048x1161.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-312-265x150.png 265w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-312-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-312-618x350.png 618w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-312-788x446.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-312.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>With Litecoin trading around $99 when World Of Charts identified the pattern, a 25% rally from those levels would target a move up to approximately $124 for the seventh-largest cryptocurrency by market cap.</p>
<p>Technical analysis uses historical trading activity and price patterns to attempt to forecast future market moves and identify potential trading opportunities. While it can be a useful tool, technical signals are not guarantees, and investors should always do their own research before executing any trades</p>
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<p>The post <a href="https://captainaltcoin.com/injective-inj-finally-confirms-falling-wedge-breakout-litecoin-ltc-breaking-from-bullish-pennant-here-are-their-next-price-targets/" rel="noopener noreferrer nofollow">Injective (INJ) Finally Confirms Falling Wedge Breakout; Litecoin (LTC) Breaking from Bullish Pennant: Here Are Their Next Price Targets</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Injective (INJ) Finally Confirms Falling Wedge Breakout; Litecoin (LTC) Breaking from Bullish Pennant: Here Are Their Next Price Targets

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