Injection price prediction for today, May 6 – INJ Technical Analysis

adminMay 7, 2024

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Injection price predictions show a 5.25% price increase over the last 24 hours of trading with the cryptocurrency reaching $26.2.

Dumpling Price Prediction: INJ emerges as an attractive buy after 20% drop.

Injective (INJ) tumbled lower amid Friday’s market crash triggered by Bitcoin’s plunge, causing significant volatility in both long and short positions. Nonetheless, for potential investors who arrive late to a bullish trend, this presents a golden moment for discounted entry, especially in the wake of Bitcoin’s halving.

Injection price statistical data:

Current injectable price – $25.50
Injectable market capitalization – $2.41 billion
Circulating supply of injectables – 93.4 million units
Total supply of injectables – 100 million units
Injectable CoinMarketCap Ranking – #67

INJ/USD market

Main level:

Resistance levels: $42.0, $44.0, $46.0

Support levels: $9.70, $7.70, $5.70

Injection price prediction for today, May 6 - INJ Technical Analysis — INJUSD – daily chart

Currently, INJ/USD observed a price surge of 5.25% over the last 24 hours of trading and bounced from the resistance level of $23.8 to $26.21. If the 9-day moving average (MA) exceeds the 21-day MA, the injection price could potentially move higher. The current market dynamics are in favor of the buyers, who are pushing the coins towards the upper boundary of the channel.

Injectable Drug Price Prediction: Injectable Drug (INJ) is poised for a surge above the $30.0 level.

If buyers push the price above the 9- and 21-day moving averages, the injection price may need to rise above $27.0. But conversely, if sellers take the market movement lower, traders may think the market is bearish.

Nonetheless, the bullish trajectory may face initial resistance at $30.0 and additional potential hurdles at $42.0, $44.0, and $46.0. Conversely, if selling pressure breaks out of the sub-channel boundary, traders can expect support levels at $9.70, $7.70, and $5.70. In particular, the 9-day moving average (MA) continues to be below the 21-day moving average, indicating that bearish sentiment is dominant.

INJ/BTC could be headed to the upside

For Bitcoin, the injective is likely to break above the 9- and 21-day moving averages, which could reach the upper boundary of the channel. The nearest resistance level above is likely to hit 5000 SAT. Higher resistance lies above 5500 SAT.

Alternatively, additional support levels could emerge below 2500 SAT if selling pressure persists and the price rises to new lows. At the same time, the 9-day moving average may need to break above the 21-day moving average, which could potentially signal an upward trend in the market’s trajectory.

@CryptoDona7 highlighted to his followers on However, the #btc pair tells a contrasting story and hints at significant potential. This discrepancy suggests a bullish scenario, with a significant surge expected in the next week or two.

$INJ/#btc
I saw a lot of people judging the price. $INJ This is the USD pair that I believe is absolutely weak compared to the rest of the market.
while #btc The pair have completely different stories. This thing looks like it’s on fire and we’re expecting a huge uptick in the next week or two… https://t.co/9AqljluQNt pic.twitter.com/s88WGL6UjO
— Dona.inj🥷 (@CryptoDona7) May 4, 2024

injective alternative

Injective (INJ) is currently approaching the $25.50 resistance and targeting a move above the 9-day moving average in a promising uptrend. Traders are closely monitoring these movements, anticipating a potential market rally. Despite its significant market capitalization and ranking, Injective’s importance may be overshadowed. Meanwhile, the Dogeverse token presents an attractive opportunity to amplify returns, especially since it has already garnered over $13 million in pre-sale. Now is a great time to consider investing in this promising token.

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