INJ SWING LONG OPPORTUNITY - Injective Network
INJ was one of the most bullish coins last year during the 2023 autumn altcoin season, achieving over an 8x increase! I strongly recommend following this coin during the 2024-2025 altseason.
Technical Analysis: The price reached a weekly swing point and wicked off it, but couldn’t close below, showing a strong rejection from that level. This led to the creation of a daily demand zone, which I find significant since the weekly run occurred before this daily demand was formed, suggesting strong support potential.
The price has now hit the daily demand zone and is sitting at a maximum discount area. I’ll be watching for lower time frame confirmations to anticipate price movement, but things are looking great.
Targets: There is a bearish trendline that has defined the bearish structure since June 2024, which I consider the first take-profit level. Additional targets are visible on the chart, with 24.94 and 28 USD as potential levels. I expect we could reach these targets before the new year.
Technical Analysis: The price reached a weekly swing point and wicked off it, but couldn’t close below, showing a strong rejection from that level. This led to the creation of a daily demand zone, which I find significant since the weekly run occurred before this daily demand was formed, suggesting strong support potential.
The price has now hit the daily demand zone and is sitting at a maximum discount area. I’ll be watching for lower time frame confirmations to anticipate price movement, but things are looking great.
Targets: There is a bearish trendline that has defined the bearish structure since June 2024, which I consider the first take-profit level. Additional targets are visible on the chart, with 24.94 and 28 USD as potential levels. I expect we could reach these targets before the new year.
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