Dogecoin

bullish

Injective

Rekt

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-rising-trends-for-injective-inj-and-altcoin-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Predicts Rising Trends for Injective (INJ) and Altcoin Market</a><br></p>
<p style="text-align: justify">Crypto analyst and strategist Rekt Capital forecasts that the Layer-1 project Injective (INJ) and the broader <a href="https://en.coin-turk.com/exciting-altcoin-listings-announced-by-coinbase/" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoin</a> market may soon enter a bullish trend. This optimism stems from recent market movements and technical indicators suggesting that the market is preparing for an upward shift.</p>
<h2 id="bullish-signs-for-injective-inj">Bullish Signs for Injective (INJ)</h2>
<p style="text-align: justify">Rekt Capital noted that INJ has formed a significant descending wedge pattern on its weekly chart. This formation is considered a bullish reversal signal, indicating a decrease in selling pressure and that buyers are slowing down price declines:</p>
<blockquote>
 <p>Injective has been developing within this channel for months. A weekly close above the light blue diagonal resistance could be sufficient to initiate a new bullish trend. INJ will likely move as close as possible to the peak of this structure in preparation for a breakout.</p>
</blockquote>
<p style="text-align: justify">At the time of writing, INJ is trading at $18.63, down over 5% in the last 24 hours.</p>
<h2 id="dogecoin-doge-reassessing-support-levels">Dogecoin (DOGE) Reassessing Support Levels</h2>
<p style="text-align: justify">The analyst believes that the popular meme coin Dogecoin (<a href="https://en.coin-turk.com/dogecoin-shows-potential-for-a-price-surge-with-upcoming-technical-indicator/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a>) has been consistently converting long-term diagonal resistance into support. Rekt Capital mentioned that DOGE has undergone a re-testing phase following its break from a macro downtrend. He stated, “Since DOGE broke the macro downtrend (blue), it has been re-testing this downturn. A successful re-test would confirm a new macro bullish trend.”</p>
<p style="text-align: justify">Currently, DOGE is trading at $0.101, also down more than 4% for the day.</p>
<p style="text-align: justify">Rekt Capital’s analysis indicates that significant <a href="https://en.coin-turk.com/bitcoin-and-altcoin-market-trends-and-predictions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoins</a> such as Injective and Dogecoin have potential for upward movement. The observed bullish divergences in the altcoin market may serve as critical signs for investors to monitor in the upcoming periods.</p>
<p>The post <a href="https://en.coin-turk.com/analyst-predicts-rising-trends-for-injective-inj-and-altcoin-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Predicts Rising Trends for Injective (INJ) and Altcoin Market</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Analyst Predicts Rising Trends for Injective (INJ) and Altcoin Market

Table of Contents

COINTURK NEWS

Other articles published on Sep 17, 2024

SEC Fines Flyfish Club $750K For Selling Unregistered Securities In The NFT Market

Coinpedia Fintech News

Rocky Rabbit Enigma and SuperSet Combo for September 17

Weekly Article Recap: 9/09-9/13

PepeCoin Price Prediction: PEPECOIN Is Top Meme Coin Gainer With 15% Surge As This PEPE 2.0 ICO R...

Top Dogecoin Casinos Redefining Online Gambling in 2024

Join our free newsletter for daily crypto updates!