Injective

<ul><li>Injective (INJ) records a 1.21% weekly increase, outperforming the broader cryptocurrency market&#39;s 3.90% decline.</li><li>INJ could reach a $50 price target if it successfully breaks above the descending channel resistance.</li><li>Injective maintains a robust trading volume of $203 million, underscoring strong investor interest.</li></ul>According to a recent <a href="https://x.com/WorldOfCharts1/status/1789163099024412987" rel="noopener noreferrer nofollow">post</a> by analyst World Of Charts on X, Injective (INJ), a notable Layer 1 blockchain asset, has been showcasing signs of potential growth and resilience in a predominantly bearish cryptocurrency market. Despite a general market downturn of 3.90% this past week, Injective has managed to record an increase in its price. Valued at <a href="https://www.coingecko.com/en/coins/injective" rel="noopener noreferrer nofollow">$24.79</a> as of today, the asset has seen a 0.87% rise in the last 24 hours and a 1.21% increase over the past week, indicating a positive divergence from its market counterparts.INJ’s Technical AnalysisThe technical chart provided by World Of Charts highlights that Injective&#39;s price action is confined within a descending channel, characterized by sequential lower highs and lower lows—a typical indication of a bearish trend. However, Injective has been consistent in testing the boundaries of this channel, showing adherence to the established resistance and support levels.The support at the channel&#39;s lower boundary has repeatedly held strong, suggesting a robust buying interest at these lower price points. On the other hand, the resistance at the upper boundary of the channel has effectively capped upward price movements, illustrating persistent selling pressure at higher levels.<a href="https://cryptotale.org/injective-demonstrates-resilience-amidst-cryptocurrency-downturn/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Injective Demonstrates Resilience Amidst Cryptocurrency Downturn

CryptoTale

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