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INJ 2-4 Long / Tether

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INJUPUSDT trade ideas

#INJ/USDT - Long - Potential 99.78%Direction: Long Market: Spot Risk: 0.25% - 1% #USDT_INJ Exchange: BINANCE Timeframe: 3D TP1: 14.323 Entry: 7.169 STOP: 4.904 DEFI is back! INJ's technicals are mirroring Bitcoins with this large bullish broadening wedge covering all of 2023. With an interest rate pause on the horizon, inflation looking under control and the spot BTC ETF's opening up crypto to the mainstream investment market I think Injective is well placed to catch some trickle down volume when the total crypto market cap starts to expand. A layer one blockchain built for finance, INJ has fully onchain financial markets (spot, futures and options) and is compatible with etherium as well as non EVM blockchains like Solana and IBC blockchains (cosmos) - basically its providing solutions that institutionally will be appealing. Its the roadmap though thats driving my thinking here. Q3 see's the launch of Orbital Chains, Q4 gives us the Carcosa upgrade and Mesh Chain Networks while into 2024 we'll see the Volan Upgrade and Multi VM chains added. The last few days price action have gone against my initial set up, I was intending to buy at the lower trendline around 7.169 however with the last few days movement I'm going to be accumulating from this point (incase we don't retrace) holding back 50% of my allocated capital for a buys at the trendline. I'm targeting 14.323 as my take profit, a historical support/resistance and am happy to be holding this position until mid 2024. I've set a stop at 4.904, however if we break below the 200EMA I'm going to DCA the position and bring down my target accordingly (effectively the aim here is to double my money so I'll aim for 2x my average entry price). Happy to hear any questions or thoughts in the comments.
Long
by CryptoNicho
INJUSDT wants the breakout?INJUSDT has recently experienced a liquidity grab around the $7.8 area. This suggests that there was a notable influx of buying interest at that price level, potentially indicating strong support. According to Plancton's Rules, if the conditions have been met and are satisfactory, it's suggested to open a new long position. A long position involves purchasing the asset with the expectation that its price will rise. Given the context you provided about INJUSDT's liquidity grab and its alignment with Plancton's Rules, it implies that the criteria for initiating a new long position have been fulfilled. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
14
INJUSDT to bounce from daily supportThe last long did not work out. We had a bit bounce from the 4h support but it was not substantial to fulfill our trade goals. However, the price has now come to the daily support. This zone is a pretty strong support zone and will provide support to the price and the price is likely to hold this level at least to allow the price to bounce good enough for a long trade. You can see on the chart that this level has held the price in past when the price hit this level several times and finally provided a good upward move. And therefore, I believe this is a good level to go long spot. The trade idea has been put on the chart but it can be adjusted as per the need. The idea is not to lose this opportunity due to just a spike on the down side.
Long
by angela_altair
INJUSDt is testing the resistanceINJUSDT is exhibiting a descending channel pattern on the price chart. A descending channel is characterized by a series of lower highs and lower lows, forming two parallel trendlines that act as support and resistance levels. As of now, the market is testing the upper boundary of the descending channel, which acts as a resistance level. Traders and investors are closely observing this critical juncture as it could lead to a potential breakout. A breakout refers to the scenario when the price breaks above the resistance level, indicating a potential bullish trend reversal. Given the descending channel pattern and the potential breakout, there is a possibility that the price might attract new liquidity below the current resistance level. In other words, there could be a considerable influx of buying interest once the resistance is breached, as traders look to capitalize on the upward momentum. According to Plancton's trading rules, a new long position is recommended after a decisive breakout above the $8.3 price area. A long position implies buying the asset with the expectation that its value will rise. By adhering to Plancton's rules, traders aim to take advantage of potential price appreciation, riding the upward trend until it reaches a specific target or shows signs of reversal. According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ black structure -> <= 1h structure. ––––– Follow the Shrimp 🦐
by InkyGrip
8
INJ WAIT FOR TRIGGER Hello Traders and everyone, I am Hadi Karaali, Known as SNIPERS_FX If you like the idea, do not forget to support with a like and follow. INJ BULLS TO TAKE OVER FROM A SHORT TERM. As we can see price is still overall bulls trading above our rising trendline. However, price got stuck inside this big range, Meanwhile, price is sitting around our previous major high! Where we will be looking for new longs from a short-term perspective And as we can see price is still bearish trading inside this channel, and for the bulls to kick in we need a break above the marked swing high And as usual 1-2 Risk to reward ratio, from a risk management perspective. And price can still reach our target before reaching our upper resistance zone. Until that price can still trade lower and lower. If you like this kind of analysis don't forget to like and follow and as usual follow your trading plan and manage your risk. Be patient and good luck!
Long
by Hadi_karaali