Satış

Injective- Drop to 20?

is another token that has received a lot of hype this year, but, similar to LCX's situation, all this hype hasn't led to a price increase.

If we look at the chart, we can see that after breaking above the important $10 resistance level, the price sharply rose by 400%.
However, after initially surpassing $40, INJ entered a consolidation phase.
Upon examining the weekly chart, it becomes evident that rallies above $40 were met with selling pressure.

Additionally, yesterday, following a new attempt to exceed $40, the price experienced a significant drop. In my view, these are all signs of a potential reversal.

Technically, as previously mentioned, the $40 zone acts as a strong resistance while $30 serves as a clearly defined support level.

A breach below this support could drive the price down to the next support level at $25. However, given the prolonged distribution around the $40 peak, I wouldn't be surprised to see Injective fall to $20 in the long run.

Mihai_Iacob

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Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.

Mihai_Iacob

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LCX could fall hard (Look at charts, not the hype!)

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