INJUSDT has seen an explosive move upwards. Accelerated downtrend line (orange line) was broken and leaves still around 15% of upside until the next big resistance is reached.Normally, we would expect price to retrace after reaching 3,05-3,75 USDT area as the main down trend is still active.
Longs make sense only once the down trend line is broken and retested.
Note
INJ not bothered about resistance.. so far. Now facing trendline. It would be key for it to break it strongly.Note
Level & Trend line acting as expected. Price could not break through. Falling deeply below 3 USDT would trigger the short idea seeking for a reversal to 1,12-1,41 USDT level.Bulls should wait for the trendline to be broken prior to opening further long positions.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.