🚀$INJ /USDT: Price Analysis and Trading Plan 🚀

Injective Protocol ($INJ ) is trading at $22.07, down 10.32% in the past 24 hours, with a significant trading volume of 2.26M INJ ($50.74M USDT). The price is testing key support levels, presenting opportunities for both short-term traders and long-term investors.

Key Levels to Watch:

Immediate Resistance: $24.00 (24h High)

Support Zone: $21.00 (24h Low)

Breakout Targets:

Target 1: $23.50

Target 2: $25.00

Stop Loss: $20.50 (below critical support)

Trading Strategy:

1. Support Play:

If $21.00 holds as support, consider entering near this level, targeting a rebound toward $23.50 or higher.

2. Breakout Opportunity:

A breakout above $24.00 could trigger an upside move toward $25.00, with higher momentum if supported by volume.

3. Risk Management:

Place a stop-loss at $20.50 to limit potential losses in case of further downside.

Technical Outlook:

The 4-hour chart indicates potential consolidation near the support zone, with downside risk contained if $21.00 holds. The long-term sentiment remains bullish, but short-term volatility could persist.

🔔 Recommendation: Monitor price action at $21.00 support and volume near $24.00 resistance to confirm entry points.

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