Injective (INJ), which is seen as one of the important candidates of the next bull season, attracted attention with its upward move.
INJ, which managed to survive even during periods when BTC was on a downward trend, is now more prominent. With BTC maintaining its permanence above $36,500, INJ has gradually increased its buyer base and recorded an increase of nearly 8 percent in a short time. Additionally, the popular coin, which hit $14,153 five days ago, is trading approximately 22 percent above its current price.
So, can this positive momentum on the INJ side continue? What is the latest situation for technical analysis?
Persistence above $17 could trigger a new rise!
INJ, which had strong upward candles during periods when it was priced above $17, came back to the same region. INJ, which turned its course upward with the support it received from $ 16.40, is traded at 17,146 as of the writing of the news. In every period where $ 17,127 works as support, the levels of 17,989 – 18,404 – 18,743 and $ 19,128 can be targeted, respectively.
Situations such as BTC pulling back to $35,000 or INJ continuing to have difficulty breaking above $17 will signal a bearish move. In such a case, a retreat to 16,489 – 15,627 – 14,979 and 14,153 dollars can be observed, respectively. At the same time, the monthly opening price of $ 14,153 will be a determining factor for the short-medium term price structure.
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