Massive Rollercoaster for INJ but $9 Resistance Persists, What’s Next? (Injective Price Analysis)
Injective has been in a bull market since January, and the price hasn’t looked back since.
Key support levels: $6
Key resistance levels: $10
Injective has been on an astonishing rise in the past four months, increasing over 600% or from $1.3 to $8. The price does not seem to be taking any breaks, with bulls intent on taking it to $10, where key resistance awaits. The current support is at $6.
Trading volume: Buying volume continues to rise and has been going since January. This explains the rapid rise in price.
RSI: The daily RSI is just below 70 points. The RSI has been hovering around this level since January. As long as you stay here, the bias remains upward.
MACD: The daily MACD is bending and might make a bullish cross soon, which could take the price to $10.
prejudice
The bias for INJ is bullish.
Short term forecast for ADA price
The bullish momentum may continue. But it will be important to see how the cryptocurrency performs if it can reach the important resistance at $10.
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Cryptocurrency charts by TradingView.
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