• Injective (INJ) is in a bull market since January, with the price increasing by over 600%.
• Key support and resistance levels are at $6 and $10 respectively.
• Bullish momentum is expected to continue if INJ manages to break the $10 resistance level.
Injective Price Analysis
Bull Market Since January
Injective (INJ) has been in a bull market since January 2021, with the price increasing by over 600%, from $1.3 to $8. The current support level is at $6 while there is an important resistance level of $10 awaiting ahead.
High Trading Volume & RSI
The buying volume continues to be high and sustained since January, which explains the quick ascent of the price. The daily Relative Strength Index (RSI) is just under 70 points, which indicates that the bias remains bullish so long as it stays here. The daily Moving Average Convergence Divergence (MACD) is curving up and may do a bullish cross soon, which could take the price to $10.
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The bullish momentum could continue if INJ manage to break through its key resistance at $10. It will be important to monitor how INJ performs once it reaches this milestone.
It is important to note that any financial advice given in this article should not be taken as investment advice or recommendations as CrpytoPotato does not provide any investment advice or recommendation regarding any cryptocurrency or product related investments whatsoever.