Injective

Vanar Chain

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<p>In the latest Rekt Capital newsletter, the analysis of two cryptocurrencies, Vanar Chain and Injective, provides insights into their recent market movements.</p>
<p>Recently, <a href="https://coinmarketcap.com/currencies/vanar/" target="_blank" rel="noopener noreferrer nofollow">Vanar Chain (VANRY) </a>has shown a significant development by breaking its macro downtrend (illustrated in black). However, it appears to have faced challenges during its post-breakout retest, as marked by the orange circle.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-356-1024x723.png" alt="" class="wp-image-564313" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-356-1024x723.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-356-300x212.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-356-768x542.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-356-1536x1084.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-356-2048x1446.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-356-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-356-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-356-496x350.png 496w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-356-788x556.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-356.png 1000w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Last week, VANRY closed below the macro downtrend, which prevented it from reclaiming that level as support. If the price can maintain its current levels for the remainder of the week, there is potential for VANRY to position itself for another attempt at retesting the macro downtrend. This retest is crucial; a successful one could pave the way for a new macro uptrend over time.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/top-btc-analyst-says-bitcoin-price-will-crash-backs-statement-with-price-action-analysis/" target="_blank" rel="noopener noreferrer nofollow">Top BTC Analyst Says Bitcoin Price “Will Crash,” Backs Statement with Price Action Analysis</a></em></strong></p>
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<h2 class="wp-block-heading" id="injective-could-dip-further-for-a-retest">Injective Could Dip Further for a Retest</h2>
<p><a href="https://newsletter.rektcapital.co/email/cd2a64c4-0216-4e87-ac75-1c7c9acebdaa/?ref=rekt-capital-newsletter" target="_blank" rel="noopener noreferrer nofollow">The analysis also</a> revisits the situation with INJ, which was previously noted for consolidating within its downtrending channel (depicted in light blue). Following a breakout, INJ surged directly into a resistance level at $23.46, where it faced rejection.</p>
<p><a href="https://captainaltcoin.com/expert-says-vanar-chain-vanry-and-injective-inj-prices-will-surge-when/" target="_blank" rel="noopener noreferrer nofollow">In last week’s analysis, the expectation </a>was set for a retest of the pattern’s top, which has since been confirmed (shown by the blue circle). Currently, INJ has validated its breakout from the downtrending channel but is now in a potential re-accumulation phase within the defined range of $18.02 to $23.46 (indicated by the black range).</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/crypto-community-turns-bearish-on-chainlink-xrp-solana-and-other-top-altcoins-but/" target="_blank" rel="noopener noreferrer nofollow">Crypto Community Turns Bearish on Chainlink, XRP, Solana and Other Top Altcoins, But…</a></em></strong></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-357-1024x723.png" alt="" class="wp-image-564321" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-357-1024x723.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-357-300x212.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-357-768x542.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-357-1536x1084.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-357-2048x1446.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-357-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-357-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-357-496x350.png 496w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-357-788x556.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-357.png 1000w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>There remains a possibility for<a href="https://www.coingecko.com/en/coins/injective" target="_blank" rel="noopener noreferrer nofollow"> Injective (INJ)</a> to dip into this range for a retest, and a volatile retest could even bring the price back to the top of the downtrending channel (light blue) for another breakout attempt.</p>
<p>The focus is on solidifying support around the confluent support area represented by the black range low and the top of the downtrending channel. Maintaining this support would set the stage for a move toward the range high (orange) over time.</p>
<p>This comprehensive analysis of VANRY and INJ highlights the intricate dynamics within their respective markets, emphasizing the importance of key resistance and support levels.</p>
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<p>The post <a href="https://captainaltcoin.com/vanar-chain-vanry-and-injective-inj-uptrends-halt-as-key-support-levels-break-whats-next-for-prices/" rel="noopener noreferrer nofollow">Vanar Chain (VANRY) and Injective (INJ) Uptrends Halt as Key Support Levels Break: What’s Next for Prices?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Vanar Chain (VANRY) and Injective (INJ) Uptrends Halt as Key Support Levels Break: What’s Next for Prices?

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