INJ/USDT Bullish Inverse Head & Shoulder Pattern
Updated
#INJ/USDT Technical Analysis:
As of now, the INJ/USDT pair is currently trading at $5.47, which is 15% up from our previous analysis. After examining the high-time frame chart, we can see an inverse head and shoulder pattern is forming.
Recently, the pair broke out of the neck line resistance, which confirms the bullish trend. The resistance now becomes support for the price action.
As per the inverse H&S pattern, the target is expected to be $9.08, offering potential gains to traders. To minimize the risk, a stop loss at $4.54 is suggested for this trade. It is also advisable to close the trade if the high-time frame candle closes below the neck line support.
It is important to note that this is educational content, and not financial advice. Conducting your own research and analysis is highly recommended before making any investment decisions.
Join our community for more trading insights and updates, and to stay up-to-date with the latest cryptocurrency market news.
As of now, the INJ/USDT pair is currently trading at $5.47, which is 15% up from our previous analysis. After examining the high-time frame chart, we can see an inverse head and shoulder pattern is forming.
Recently, the pair broke out of the neck line resistance, which confirms the bullish trend. The resistance now becomes support for the price action.
As per the inverse H&S pattern, the target is expected to be $9.08, offering potential gains to traders. To minimize the risk, a stop loss at $4.54 is suggested for this trade. It is also advisable to close the trade if the high-time frame candle closes below the neck line support.
It is important to note that this is educational content, and not financial advice. Conducting your own research and analysis is highly recommended before making any investment decisions.
Join our community for more trading insights and updates, and to stay up-to-date with the latest cryptocurrency market news.
Trade active
INJ/USDT Technical Analysis Alert: Inverse Head & Shoulder Pattern Indicates Bullish Breakout
Introduction:
Injective Protocol (INJ) is currently trading at $6.65 and has surged by 30% since our previous analysis. In this technical analysis, we will discuss the bullish potential of INJ/USDT and the target price based on the inverse head & shoulder pattern.
Headings:
HTF Chart Pattern: Inverse Head & Shoulder
HTF Neck Line Resistance Became Strong Support
Target Price
Stop Loss
Conclusion
HTF Chart Pattern: Inverse Head & Shoulder
The HTF (Higher Time Frame) chart pattern for INJ/USDT indicates an inverse head & shoulder pattern, which is considered bullish. The pattern has already broken and surged by 30%, indicating a potential uptrend.
HTF Neck Line Resistance Became Strong Support
The HTF neck line resistance has become a strong support level, which adds to the bullish potential of INJ/USDT. A strong support level is an important indicator of a potential uptrend in price.
Target Price
The target price for INJ/USDT, as per the inverse head & shoulder pattern, is $9.08. This indicates a potential 36% increase from the current price level.
Stop Loss
To minimize potential losses, traders should place a stop loss at $5. This is a relatively large stop loss, but it is essential to prioritize safety while trading.
Conclusion
In conclusion, the INJ/USDT technical analysis indicates a bullish breakout potential, with the inverse head & shoulder pattern already broken. The strong support level and target price of $9.08 further confirm the bullish sentiment. However, traders should always conduct their research and analysis before investing in any cryptocurrency. Technical analysis is just one tool that can be used to make informed investment decisions.
Trade closed: target reached
#INJ/USDT Profit Analysis:
IINJ is currently trading at $8.45 and has gone up to $9.124. After breaking the inverse Head & Shoulder pattern, IINJ has made a profit of 71% so far.
I have booked my profit and closed the trade with an entry at $5.20 and hitting all the targets:
TP1:
6 ✅TP2: $6.50 ✅
TP3: 77 ✅
TP4: 99 ✅
Enjoy the ride and make some boom profit! Follow me for more quality analysis.
Thank you!
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