3 Cryptos That Could Hit New All Time Highs in October🚀💥
October is shaping up to be a more positive month. Lets do a TA to one of these 3 altcoins
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🔹️INJ price has increased significantly since the beginning of the year. The upward movement caused a breakout from a descending resistance trendline, which had previously been in place since the all time high.
Afterward, the altcoin reached a new yearly high of $9.97 in April.
Since then, the Injective price has consolidated inside a symmetrical triangle, which is considered a neutral pattern. since the triangle transpires after an upward movement, an eventual breakout from it is the most likely future price scenario.
moreover, the Eliott Wave count supports the continuing increase. To determine the direction of a trend, technical analysts use the Elliott Wave theory, which involves studying recurring long term price patterns and investor psychology.
If the count is correct, the INJ price is approaching the end of the fourth wave, after which the fifth and final increase will be expected.
Measuring the length of waves one and three, it is possible to project the length of wave five using Fib projections.
The 0.382 length of waves one and three would take the INJ price to a new all time high price of $25, an increase of 250% measuring from the current price.
This bullish INJ price prediction would be invalidated by a breakdown from the triangle’s support line at $6.50. In that case, INJ could fall by 40% to $4.25.
