INJ LONGThis is the potential path of INJ from an EW perspective. I don't recommend shorting this as it may grab liquidity to the upside and will print a running flat. The best technique is to wait for the 4th wave to complete itself then execute a long trade. For confirmations, you should at least see a h.div between the 4th of the 3rd wave and the 4th wave of a higher degree. You should also be seeing a regular reversal div on the C wave of the 4th wave if it will create an ABC.
INJUPUSDT trade ideas
⚠️Injective(INJ) Needs to Rest⚠️📈Today, I want to analyze the Injective(INJ) project for you, which has increased in price by more than ➕100% in the last 30 days and touches a new All-Time High(ATH) .
🧐The question now is whether this increase will continue or whether Injective(INJ) needs a resting price/time .
💡 What Is Injective Protocol (INJ)❗️❓
🔸 Injective is a blockchain built for finance. It is an open, interoperable layer-one blockchain powering next-generation DeFi applications, including decentralized spot and derivatives exchanges, prediction markets, lending protocols and more.
🔸Injective uniquely provides powerful core financial infrastructure primitives that applications can leverage, including a fully decentralized MEV-resistant on-chain orderbook. In addition, all forms of financial markets, such as spot, perpetual, futures, and options are fully on-chain. The decentralized cross-chain bridging infrastructure is compatible with Ethereum, IBC-enabled blockchains, and non-AVM chains such as Solana.
💡Let's look at the Reasons for the increase in Injective(INJ) .
👉 The trading volume for the coin has risen 81.0% over the past week diverging from the circulating supply of the coin, which has decreased 0.55%. This brings the circulating supply to 84.26 million, which makes up an estimated 84.26% of its max supply of 100.00 million.
👉 The Volan Upgrade , allowing decentralized apps to be built using inEVM and inSVM on Injective. This paves the way for an influx of new dApps.
👉No tokens have launched on Injective yet. The first token launches will generate hype, especially with only ~ 2,000 active Injective users .
👉 Many DeFi projects are still in testnet. Their mainnet launches will likely bring swathes of new users seeking arbitrage, yield farming, and airdrops.
👉 Confirmed upcoming airdrops are also boosting user growth in anticipation of free token rewards.
👉 The integration with Kujira brings the KUJI token to the Injective ecosystem. As Wacy notes, KUJI has seen significant price rises recently, so this pairing can enhance both chains.
📉So it seems that the Injective(INJ) project is in good condition according to the above explanations in terms of fundamentals and news ; now, let's take a look at the technical analysis of the INJ chart in the 1-hour time frame .
🏃♂️ Injective(INJ) , the main bullish movement, continues through the Ascending Channel ( 🔵Blue🔵 ) in the daily time frame .
🏃♂️Currently, Injective(INJ) has managed to break the 🔴 Resistance zone($25.30-$19.80)🔴 /(Currently, this zone has become a 🟢Support zone🟢 ) and is moving in the Ascending Channel( ⚫️Black⚫️ ) in the 1-hour time frame .
🌊According to the theory of Elliot waves , it seems that the Injective(INJ) inside the ascending channel is completing its five impulsive waves so that wave 3 is extended .
📈It is better to take a look at the INJBTC chart before making a decision.
💡In recent week, INJBTC has formed an excellent bullish engulfing candle so far, and in the weekly time frame , the Inverse Head and Shoulders pattern is clearly visible. Also, INJBTC is moving in an ascending channel , which is currently near the upper line of this channel, and I expect INJBTC to take time to rest and reach the lower line of the horizontally ascending channel. Then, it will follow one of the two scenarios below .👇
🔔As a result, according to my explanation, I expect wave 5 to finish near the Important Resistance line , 🟡 Price Reversal Zone(PRZ) 🟡, and the upper line of the ascending channel, and then the Injective(INJ) will fall(➖30%) to the 🟢 Support zone($25.30-$19.80)🟢 after breaking the lower line of the ascending channel, so if you are looking to buy the INJ token It looks like you have to wait .
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Injective Analyze (INJUSDT), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
INJ (the strong bull )INJ / USDT
INJ showed strength in every flash crash since last few weeks and today it make a new ATH !
Its kind of behavior/ price action only reminds me of BNB and SOL in 2021 !
I want to see it consolidating and holding above its previous ATH in order for push more
Could it repeat BNB 2021 or SOL 2021 again ?
#DYOR
📊#INJ short structure goal is achieved, be cautious in shorting🧠We began to stabilize after completing the goal of the double-top short structure, and during the decline, we swept the liquidity pool below and began to rebound. Considering that the general direction is bullish, we can still expect to continue to rise📈
⚠️Note that if we continue to break below the bullish defense level, the bullish view will be invalidated.❌
Let’s see 👀
⚠️Note that technical analysis is for reference only, don’t forget risk management. If you find it useful, please don’t forget to follow, like and share my analysis post📤
INJ a much needed resetINJ is my largest holding and WAY overheated here, price discovery is a fickle beast. I would love to see INJ take a slow grind down to around the previous all-time-high for a bounce. My preferred path is marked on the circles. There is no assurance that we simply bounce here, maybe a consolidation, either way I am net bullish, short term bearish only because this has run so far. Total3 and BTC looking to both be taking a dump soon. INJ will definitely hold up better than many others overall.
Best Setup in CryptoInjective has been building out a 6 month symmetrical triangle base (long-term cup w/ handle). Volume has declined significantly with price tightening up just above the weekly 20 EMA + 30 SMA.
As we're heading into a seasonally strong period (Oct-Nov is historically the best performing period for crypto) and the pattern appears to be nearing an end, this could be ready to rip over the next 6-8 weeks just as sentiment hits extreme fear.
Catalyst: The SEC on Oct 13 decided to not appeal the court case won by Grayscale, increasing the likelihood of a Bitcoin ETF being approved over the next few months. The market could front-run this ETF approval.
#INJUSDT (Watchlist) 5-2023
Add BINANCE:INJUSDT to your watchlist.
When we suggest adding a coin to your watchlist, it means it's forming a pattern or approaching a historical bottom, near or above a good support level, displaying increased trading volume, showing a reversal candle, in an accumulation stage, etc. However, we haven't seen any bullish reaction yet, so we recommend adding it to your watchlist until the right time for entry.
Note:
This isn't financial advice, but an analysis of coin movement (not a buy or sell signal). Before following any ideas, do your own research and practice good risk management.
You can't impose your opinion or force it to happen in the cryptocurrency market. So, be prepared for any outcome.
Remember, the cryptocurrency market is highly volatile and involves both gains and losses. Understand the risks before investing.
Good luck to everyone, and we hope that Allah reconciles and repays us all. 🙏