Weekly Analysis of Altcoin Markets: $ARB , $IMX , $INJ - GNCrypto Analytics

As always, altcoins struggle during any Bitcoin correction. The ARB chart is currently exhibiting a similar pattern. A week ago, the coin reached its ATL of below $0.740, and it is now trading sideways between the support of $0.730–$0.760 and the resistance of $0.810–$0.855.

The prevailing scenario for ARB suggests a continuation of the decline. Identifying the next support level is challenging, as the ARB price has never been this low. Discussions of a trend reversal can only begin once the price consolidates above the $0.94 level.

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After reaching a new all-time high in March 2024, IMX has undergone a significant correction, now down by 61%. The asset has reached a critical support level at $1.40, a point dense with buy orders.

The next steps for IMX will depend heavily on Bitcoin's performance. Should BTC hold its current levels, IMX might initiate a local upward movement to challenge the resistance zone between $1.65 and $1.85.

The end of the downtrend can only be confirmed once IMX's price consistently exceeds $2.23, a milestone that requires some patience from investors.

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INJ is currently trading within a support range of $16.6–$20.0. This zone is pivotal for the future of Injective.

If buyers can maintain their positions and keep the price above $16.6, INJ may resume its upward trajectory, potentially reaching first the $25 mark and then advancing to the seller zone at $31.0–$34.6. Conversely, if this support fails, INJ faces the possibility of a prolonged decline and continual setting of new lows.