🔽 #İNJ may go lower
A rather negative picture is forming on the chart of Injective. Let's consider it on the 1-day #timeframe .
After the decline in mid-April, the price has fallen into consolidation. It is taking place within the pattern "ascending price channel" 📈
Within this formation, the price has consolidated under the midline of the channel. There are chances that after that there will be a #downward retracement of the trend that preceded the formation.
Here the transformation of the pattern "ascending price channel" into the pattern "bearish flag" 🐻can be completed.
