Clear analysis of INJ asset chart
Several important points can be highlighted on the chart of the asset $INJ :
![](https://public.bnbstatic.com/image/pgc/202406/66d98cd830839fd66d4745cbb4b11de6.png)
Formation:
Price forms a symmetrical triangle, which often indicates consolidation before a strong move in either direction.
At the moment, the price is testing the outer line of the triangle (resistance), which may be a key level for further direction of movement.
Current situation:
The price is near the $28.18 level, close to the upper border of the triangle.
If the price breaks through this resistance and settles higher, it could signal possible growth.
Indicator:
MA (Moving Averages): The price is above the 25-period moving average ($28.87) and below the 99-period moving average ($26.96), indicating mixed signals.
SAR: The Parabolic SAR indicator indicates an uptrend.
Ichimoku Cloud: The price is in the cloud, indicating uncertainty, but also showing support at $27.00 and resistance near $31.00.
Trading volumes:
Trading volumes remain moderate, which could indicate low volatility and a lack of strong momentum in either direction.
Possible scenarios:
Bullish scenario 🐂:
If the price breaks the $29.25 level (the upper border of the triangle), this could lead to significant growth.
Levels for further growth: $31.00 and above, depending on the strength of the momentum.
Bearish scenario 🐻:
If the price fails to break through resistance and bounces down, a return to the $27.00 support level is possible.
A break through triangle support (below $27.00) could signal a continuation of the downtrend.
Conclusion:
The current price consolidation near the upper border of the triangle is a critical moment for $INJ. Breaking through resistance or support will determine the further direction of the asset's movement. Investors should watch these levels closely to make informed trading decisions. 📈📉