Injective could surge over 1,100% if it holds above $21.65, with a $380 target in sight, says analyst JavonTM1.
After a correction, the Injective shows bullish patterns and higher highs, signaling the potential for major growth in the coming months.
With momentum indicators aligning, Injective could break key resistance levels and soar, potentially hitting $380 soon.
The injective has gradually recovered from a recent dip. According to crypto analyst JavonTM1, the cryptocurrency is showing strong bullish patterns. With prices staying above a crucial support level of around $21.65, INJ is setting up for a possible breakout.
The analyst suggests that if this trend continues, the token could experience a substantial rise, with a potential 1,100% return. A major target price of $380 could be on the horizon, sparking optimism among investors.
https://twitter.com/JavonTM1/status/1868761082388533287
Breakout and Bullish Patterns
Looking at the price action, Injective showed an early upward trend, followed by a correction phase in 2022. The price dropped, but this downturn ended with a rounded bottom pattern. This chart formation is often seen as a strong reversal signal, suggesting that INJ could soon embark on a new uptrend. After the correction, the price began to rise, confirmed by higher highs and higher lows. Currently, the price is stabilizing near a key support level.
The breakout from the rounded bottom has already started to propel the asset into a new bullish phase. Prices have surged in recent weeks, creating a bullish momentum. The price continues to hover around the $21.65 level, a critical support zone. This ongoing support reinforces the expectation that the market will continue its upward trajectory. Investors should watch for the confirmation of a breakout above this level to signal a major bullish move.
Key Resistance Levels and Projected Gains
In addition to the support at $21.65, there are clear projection levels. Analysts have identified a target price of $380, a level that suggests a potential 1,100% increase in value. The breakout zone, with a calculated price range, indicates growth possibilities. If the trend continues, the asset could move toward the 358.344 mark, showing bullish potential.Additionally, the momentum indicator, likely an RSI or similar tool, reflects positive movement. After breaking its downtrend, the momentum has mirrored the price's recovery. This unified movement suggests that the upward momentum could continue.
