$INJ is trading at $21.34, showing a strong rebound as it tests intraday resistance at $21.76. A breakout above this level could signal continued bullish momentum, while a rejection might lead to a period of consolidation or a pullback.
Trade Plan for INJ/USDT:
Long Position:
Entry: Above $21.80 (confirmed breakout)
Stop Loss (SL): $21.00
Take Profit 1 (TP1): $22.50
Take Profit 2 (TP2): $23.20
Short Position:
Entry: Below $20.80 (confirmed breakdown)
Stop Loss (SL): $21.30
Take Profit 1 (TP1): $20.00
Take Profit 2 (TP2): $19.50
Technical Analysis:
The price action suggests growing buying pressure, pushing $INJ toward the upper range. A decisive breakout above $21.80 may confirm a bullish continuation, targeting $22.50 and $23.20. On the other hand, if the price fails to hold above $20.80, it could signal a bearish reversal with potential support targets at $20.00 and $19.50.
Traders are advised to watch for volume confirmation and maintain strict stop-loss orders to effectively manage risk.
