$INJ

Injective ( INJ ) has reached the resistance line of the descending channel pattern, which is likely to act as a stiff resistance.

The moving averages are about to complete a bullish crossover, and the RSI is in positive territory, indicating an advantage to the buyers. A break and close above the channel will signal a possible trend change. The INJ/USDT pair could rally to $23 and then to $28.

Conversely, if the price turns down sharply from the resistance line and breaks below the moving averages, it will suggest that the pair may extend its stay inside the channel for some more time.

The pair has been gradually moving towards the resistance line of the channel, which is likely to act as a stiff hurdle. If the price turns down from the resistance line but rebounds off the 20-EMA, it will signal strength. This will increase the probability of a break above the channel. The bears may again pose a stiff challenge at $23, but the level is likely to be crossed.

If the bears want to avoid the rally, they will have to pull the price below the 20-EMA. The pair may then slide to the 50-SMA.