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<p>A popular crypto analyst has highlighted that Injective’s INJ token is setting up for a potentially massive bullish move, but a key support level must be defended by buyers to catalyze the upside.</p> 
<p>According to <a href="https://twitter.com/CryptoJelleNL/status/1768529345411231821" target="_blank" rel="nofollow">Jelle</a>, a trader actively tracking INJ’s price action, the token is exhibiting multiple technical bullish signals that combine to create a “picture-perfect” setup:</p> 
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<ol> 
 <li>INJ has broken out from a 2-month accumulation range, which refers to a prolonged period of tightening price action where buyers and sellers reach an equilibrium before a breakout.</li> 
 <li>It has also broken out from a 2-week bullish flag pattern, which is a technical formation suggesting a continuation of the preceding uptrend after a brief consolidation period.</li> 
 <li>Most significantly, INJ has set new all-time highs by surpassing its previous peak price levels.</li> 
</ol> 
<p>Jelle notes that if INJ manages to successfully retest and find support at the previous 2-month accumulation range around current levels, it could catalyze a rally up to $75. This represents potential upside of over 60% from the current trading price.</p>  
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<p>Complementing Jelle’s analysis, our team’s research has uncovered that INJ’s price is also attempting to retest the breakout level around $45 that kicked off 3 days ago after a 3-month consolidation period.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="465" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-631-1024x465.png" alt="" class="wp-image-452653" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-631-1024x465.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-631-300x136.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-631-767x348.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-631-1536x697.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-631-2048x929.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-631-331x150.png 331w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-631-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-631-772x350.png 772w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-631-788x357.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-631.png 1823w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>For the bulls to remain in control and push prices higher towards the $75 target projected by Jelle, it is crucial that the $45 level holds as support during this retest. A failure to sustain above $45 could potentially lead to another consolidation phase or downward price movement.</p> 
<p>In summary, while multiple technical indicators are aligning for a major bullish continuation for INJ, traders and investors will be closely monitoring whether the token can successfully retest and bounce from the $45 support zone. Holding this level could open the path for a rally exceeding 60% from current prices up towards $75.</p> 
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<p>The post <a href="https://captainaltcoin.com/injectives-inj-token-flashing-picture-perfect-bullish-signals-but-crucial-support-must-hold-for-60-rally/">Injective’s INJ Token Flashing ‘Picture-Perfect’ Bullish Signals, But Crucial Support Must Hold for 60%+ Rally</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Injective’s INJ Token Flashing ‘Picture-Perfect’ Bullish Signals, But Crucial Support Must Hold for 60%+ Rally

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