Technical Analysis: $INJ

/USDT (Layer 1 Gainer)

Current Price: $25.98 (+12.71%)

24h High: $26.39 | 24h Low: $22.67

24h Volume (INJ): 2.05M | 24h Volume (USDT): $51.69M

INJ/USDT has shown impressive growth over the past 24 hours, with a strong +12.71% increase in price. Currently trading near $25.98, the coin has reached a 24h high of $26.39, confirming bullish momentum. Here’s a deeper look into the market structure:

Key Price Levels:

Resistance Level: $26.40

Support Level: $25.00

Technical Indicators:

RSI (Relative Strength Index): The RSI indicates that INJ/USDT is nearing an overbought region, which could signal a potential pullback if the price touches the $26.40 resistance level.

MACD (Moving Average Convergence Divergence): The MACD shows bullish crossover, confirming the recent momentum and possible continuation towards higher levels.

Volume: Strong trading volume, with 2.05M INJ traded, indicates that the current upward movement has good backing.

Short-Term Outlook:

Bullish Trend: INJ/USDT is currently in a solid uptrend, with the price aiming to test $26.40. A breakout above this level could push prices further higher toward $27.00.

Risk of Pullback: A minor retracement could occur if the price tests the support near $25.00.

Strategy:

Bullish: Watch for breakouts above $26.40 with further upward potential.

Bearish: If the price fails to break above resistance, consider a short-term pullback to $25.00.

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