Injective

Resistance

Daily

Gains

<div class="insidebitcoins">
 <p>Injective price prediction sees a 5.25% price increase over the past 24 hours of trading as the cryptocurrency touches $26.2.</p>
 <h2 id="injective-price-prediction-inj-emerges-as-an-enticing-buy-following-a-20-decline">Injective Price Prediction: INJ emerges as an enticing buy following a 20% decline.</h2>
 <p>Injective (INJ) witnessed a downturn amid Friday’s market crash, triggered by Bitcoin’s plunge, causing significant fluctuations in both long and short positions. Nonetheless, for prospective investors arriving late to the bullish trend, this presents an opportune moment for a discounted entry, particularly with Bitcoin halving on the horizon.</p>
 <h2 id="injective-price-statistics-data">Injective Price Statistics Data:</h2>
 <ul>
  <li>Injective price now – $25.50</li>
  <li>Injective market cap – is $2.41 billion</li>
  <li>Injective circulating supply – 93.4 million</li>
  <li>Injective total supply – 100 million</li>
  <li>Injective Coinmarketcap ranking – #67</li>
 </ul>
 <h2 id="inj-usd-market">INJ/USD Market</h2>
 <p>Key Levels:</p>
 <p>Resistance levels: $42.0, $44.0, $46.0</p>
 <p>Support levels: $9.70, $7.70, $5.70</p>
 <figure id="attachment_517689" aria-describedby="caption-attachment-517689" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="wp-image-517689 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201374%20744'%3E%3C/svg%3E" alt="Injective Price Prediction for Today, May 6 – INJ Technical Analysis" width="1374" height="744" data-lazy-srcset="https://cdn.thebittimes.com/images/2024/05/07/014609e9b63fabfe1b1c482bff464c82.webp 1374w, https://cdn.thebittimes.com/images/2024/05/07/014609e9b63fabfe1b1c482bff464c82.webp 300w, https://cdn.thebittimes.com/images/2024/05/07/014609e9b63fabfe1b1c482bff464c82.webp 1024w, https://cdn.thebittimes.com/images/2024/05/07/014609e9b63fabfe1b1c482bff464c82.webp 768w" data-lazy-sizes="(max-width: 1374px) 100vw, 1374px" data-lazy-src="https://cdn.thebittimes.com/images/2024/05/07/014609e9b63fabfe1b1c482bff464c82.webp">
  <noscript><img decoding="async" class="wp-image-517689 size-full" src="https://cdn.thebittimes.com/images/2024/05/07/014609e9b63fabfe1b1c482bff464c82.webp" alt="Injective Price Prediction for Today, May 6 – INJ Technical Analysis" width="1374" height="744" srcset="https://cdn.thebittimes.com/images/2024/05/07/014609e9b63fabfe1b1c482bff464c82.webp 1374w, https://cdn.thebittimes.com/images/2024/05/07/014609e9b63fabfe1b1c482bff464c82.webp 300w, https://cdn.thebittimes.com/images/2024/05/07/014609e9b63fabfe1b1c482bff464c82.webp 1024w, https://cdn.thebittimes.com/images/2024/05/07/014609e9b63fabfe1b1c482bff464c82.webp 768w" sizes="(max-width: 1374px) 100vw, 1374px">
  </noscript>
  <figcaption id="caption-attachment-517689" class="wp-caption-text">
   INJUSD – Daily Chart
  </figcaption>
 </figure>
 <p>Currently, INJ/USD has observed a 5.25% price surge in the last 24 hours of trading, marking a bounce from the $23.8 to $26.21 resistance threshold. The Injective price could potentially ascend further if the 9-day Moving Average (MA) surpasses the 21-day MA. As of now, market dynamics favor the bulls, with buyers driving the coin toward the upper boundary of the channel.</p>
 <h2 id="injective-price-prediction-injective-inj-is-ready-for-a-spike-above-30-0-level">Injective Price Prediction: Injective (INJ) is Ready for a Spike above $30.0 Level</h2>
 <p>The injective price may need to rise above $27.0 if the buyers push the price above the 9-day and 21-day moving averages. But on the contrary, traders may consider the market as bearish if the sellers take the market movement to the lower side.</p>
 <p>Nevertheless, an upward bullish trajectory may encounter initial resistance at $30.0, with further potential hurdles at $42.0, $44.0, and $46.0. Conversely, should selling pressure breach the lower channel boundary, traders could anticipate support levels at $9.70, $7.70, and $5.70. Notably, the 9-day Moving Average (MA) continues to trail below the 21-day MA, signaling a prevailing bearish sentiment.</p>
 <h2 id="inj-btc-could-head-to-the-upside">INJ/BTC Could Head to the Upside</h2>
 <p>Against Bitcoin, the Injective is likely to cross above the 9-day and 21-day moving averages, which could face the upper boundary of the channel. From the above, the nearest resistance level is likely to touch 5000 SAT. Above this, higher resistance lies at 5500 SAT and above.</p>
 <figure id="attachment_517688" aria-describedby="caption-attachment-517688" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="wp-image-517688 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201374%20744'%3E%3C/svg%3E" alt="Injective Price Prediction for Today, May 6 – INJ Technical Analysis" width="1374" height="744" data-lazy-srcset="https://cdn.thebittimes.com/images/2024/05/07/4f059912e020154f162137a503fffd0a.webp 1374w, https://cdn.thebittimes.com/images/2024/05/07/4f059912e020154f162137a503fffd0a.webp 300w, https://cdn.thebittimes.com/images/2024/05/07/4f059912e020154f162137a503fffd0a.webp 1024w, https://cdn.thebittimes.com/images/2024/05/07/4f059912e020154f162137a503fffd0a.webp 768w" data-lazy-sizes="(max-width: 1374px) 100vw, 1374px" data-lazy-src="https://cdn.thebittimes.com/images/2024/05/07/4f059912e020154f162137a503fffd0a.webp">
  <noscript><img decoding="async" class="wp-image-517688 size-full" src="https://cdn.thebittimes.com/images/2024/05/07/4f059912e020154f162137a503fffd0a.webp" alt="Injective Price Prediction for Today, May 6 – INJ Technical Analysis" width="1374" height="744" srcset="https://cdn.thebittimes.com/images/2024/05/07/4f059912e020154f162137a503fffd0a.webp 1374w, https://cdn.thebittimes.com/images/2024/05/07/4f059912e020154f162137a503fffd0a.webp 300w, https://cdn.thebittimes.com/images/2024/05/07/4f059912e020154f162137a503fffd0a.webp 1024w, https://cdn.thebittimes.com/images/2024/05/07/4f059912e020154f162137a503fffd0a.webp 768w" sizes="(max-width: 1374px) 100vw, 1374px">
  </noscript>
  <figcaption id="caption-attachment-517688" class="wp-caption-text">
   INJBTC – Daily Chart
  </figcaption>
 </figure>
 <p>Alternatively, should selling pressure persist and drive prices to new lows, further support levels could emerge at 2500 SAT and below. Concurrently, the 9-day moving average might necessitate a crossover above the 21-day moving average, potentially signaling an uptrend in the market’s trajectory.</p>
 <p>@CryptoDona7 enlightened his followers on X (formerly Twitter), highlighting that many individuals are assessing the price of $INJ solely based on its USD pair, mistakenly perceiving it as exhibiting overall weakness compared to the broader market. However, the #btc pair tells a contrasting tale, hinting at a significant potential. This discrepancy suggests a bullish scenario, with expectations of a substantial surge within the next 1-2 weeks.</p>
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
  <p lang="en" dir="ltr">$INJ/#btc</p>
  <p>i see many people judging the price of $INJ by it's USD pair thinking that it's showing absolute weakness compared to the rest of the market</p>
  <p>while #btc pair is telling a complete different story , this looks absolutely fire and i expect a huge surge within 1-2 weeks… https://t.co/9AqljluQNt pic.twitter.com/s88WGL6UjO</p>
  <p>— Dona.inj🥷 (@CryptoDona7) May 4, 2024</p>
 </blockquote>
 <p></p>
 <h2 id="injective-alternatives">Injective Alternatives</h2>
 <p>The Injective (INJ) is currently approaching the $25.50 resistance level and aims to surpass the 9-day moving average amidst a promising upward trend. Traders are monitoring this movement closely, anticipating a potential market rally. Despite its substantial market cap and ranking, Injective’s significance may be overshadowed. Meanwhile, the Dogeverse token presents an attractive opportunity for amplifying returns, especially with over $13 million already secured in its presale. Now is an opportune time to consider investing in this promising token.</p>
 <p>Dogeverse: Your Last Chance Before 10x Blast!</p>
 <p></p>
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 <p></p>
 <p>With Dogeverse token already raising over $13 million, now is the opportune moment to dive into this promising investment opportunity. The significant backing this token has received underscores its potential for remarkable growth and success. By investing in Dogeverse, you’re not just buying into a token; you’re becoming part of a thriving community poised to revolutionize the crypto space.</p>
 <p>You can benefit from&nbsp;Dogeverse&nbsp;today.</p>
 <h2 id="related-news">Related News</h2>
 <ul>
  <li>Injective Price Prediction: INJ Is Top Yearly Gainer With 2,248% Explosion – And History Suggests This Surging ICO Might Repeat The Feat</li>
  <li>Top 5 Meme Coins to Buy in May for Potential 50X Gains – $SEAL, $FLOKI, $WIF, $DOGEVERSE, and $BOME</li>
 </ul>
 <p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/injective-price-prediction-for-today-may-6-inj-technical-analysis-tbt87601.html">https://thebittimes.com/injective-price-prediction-for-today-may-6-inj-technical-analysis-tbt87601.html</a></p>
</div>

Injective Price Prediction for Today, May 6 – INJ Technical Analysis

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