$INJ Analysis + Signal 🚀💸
1. Injective saw a strong breakdown as it was rejected from the yearly open. This led us to
drift towards the range lows near $31.30, which quickly were lost as we broke down from
$30. This led INJ to flush down to the previous range highs at $18.60.
2. It’s been consolidating really well and could be looking to breakout higher this week.
3. It has a nice trendline sitting ahead of it coming from the recent highs. It will be nice if it
can breakout from there.
4. For a long position, look for INJ to break the trendline, this will be decent to start seeing
a move back towards range highs. INJ has struggled approaching $30, seeing such a
move would be a display of strength. This would lead us closer to $26.65 and $29.00.
Any higher will go for that $30 breakout. We will see how this looks next week
5. For a short position, look for price to breakdown at $22, this will confirm a move towards
the low of range. A breakdown of that will confirm price moving to $20.50 and $18.80.
Last week saw a failed breakdown of this level, so it will be interesting if we can
encounter it again
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