Cryptocurrency

Injective

<ul>
 <li>#<a href="https://www.coingabbar.com/en/crypto-currency/injective-protocol-inj-prices-usd" title="Injective" class="f-link" rel="noopener noreferrer nofollow">Injective</a> demonstrated a strong uptrend, gaining over 40% in recent weeks and reaching an all-time high of $53.</li>
 <li>However, this bullish momentum faded, resulting in a complete retracement of the gains made throughout the year.</li>
 <li>INJ price initially showed a bearish trend, followed by a recent bullish surge that peaked at $28 before retracing.</li>
 <li>Initially trading within a range of $30.55 to $43.35 until the second week of March, INJ experienced a significant surge thereafter.</li>
 <li>This surge broke resistance levels, leading to a 31.54% increase and establishing a new all-time high.</li>
 <li>Subsequently, a correction of 50.36% occurred over 33 days as bullish momentum weakened.</li>
 <li>INJ price consistently hovers near the critical support level of $23.30 while facing resistance from its 200-day EMA, indicating mixed market sentiment.</li>
 <li>On the daily chart, INJ bounced precisely at the 0.618 Fib retracement support level and the previous all-time high resistance of $21, indicating robust buying pressure.</li>
 <li>If the market remains above $23.30, bulls may attempt to test the $31.00 resistance level.</li>
 <li>According to <a href="https://www.coingabbar.com/en/price-prediction" title="Coingabbar analysis" class="f-link" rel="noopener noreferrer nofollow">Coingabbar analysis</a>, Conversely, continued bearish dominance could push the price down to test the lower support level of $18.50 this month.</li>
</ul>
KEY LEVELS :
RESISTANCE LEVEL : $28.00-$31.00
SUPPORT LEVEL : $22.50-$20.00
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Injective Price Prediction: Can INJ Overcome Its 200 EMA?

Coingabbar

Other articles published on Apr 18, 2024

Breaking: Binance To Re-Enter India As FIU-Registered Exchange After $2M Penalty

Bitcoin Halving is Close: What About BTC Miners? What Should the BTC Price Be to Prevent Them Fro...

Solana Price Prediction: Former Goldman Sachs Exec Says He Holds 80% SOL As This Solana Meme Coin...

The Newest GameFi Token on SOL Raises Over $300,000 in Presale – Next 100x Crypto Gem?

Binance Unveils Megadrop: A Platform With Airdrops And Web3 Quests

Scroll Introduces Loyalty Program, Excludes China and U.S. Users

Join our free newsletter for daily crypto updates!