Injective Protocol (INJ) and Kaspa (KAS) ready for violent movements

The longer the sideways price action lasts, the more explosive the eventual move could be. Both $INJ and $KAS have been moving sideways since before the new year. Are you both ready to explode upwards?

$INJ and $KAS are two of the top altcoins. $INJ has a market cap of $3.3 billion, and $KAS isn't far behind with almost $3.2 billion in market cap. These two have been moving sideways in a range since late 2023. The longer this period of accumulation lasts, the more explosive the upward movement could be, when and if it occurs.

Explosive price movement for $INJ?

Source: Coingecko/Visão de Negociação

As can be seen from the daily chart above, $INJ is within an ascending channel and the price is also within a wide range from $30 at the bottom level to $45 at the top.

$INJ first reached the channel top and range top on December 24, 2023. Since then, the price has been moving sideways. With over three months of this type of movement, if $INJ manages to rise, the resulting price action could be explosive.

If and when $INJ is able to reach another all-time high, the next targets, according to Fibonacci levels, would be $63, $84 and $102.

$KAS has even longer consolidation period

Source: Coingecko/Visão de Negociação

$KAS is within an even larger range than $INJ and has been under construction since November 19, 2022.  For $KAS, there are 4 distinct levels. The bottom of the range is at $0.09, and the top of the range can be said to be at $0.15, although the price deviated outside of that range from mid-February to mid-March, extending up to US$0.175.

It could also be said that $KAS is inside an ascending channel, just like $INJ. There are only two touchpoints to the top yet, but if the price can reach the top of this channel, it will be confirmed.