$INJ update: still in a raising pattern
Following this weekend’s mini crash when Israel targeted Iran, creating uncertainty and pushing 
BTC dominance up to 60%, most altcoins experienced another pullback. The 
TOTAL3 index (alts excluding 
ETH and BTC) has dropped to 500B, impacting the broader altcoin market.
IINJ has not performed well, mainly because many early investors who bought at $2 are now gradually taking profits after a 10x gain, creating ongoing selling pressure.
Despite this, IINJ continues to build partnerships (most recently with FETCH) and expand listings (such as Upbit), showing sustained investor interest. However, selling pressure has been counterproductive, limiting IINJ's ability to rally significantly.
The chart indicates a rising wedge channel, with new support levels forming and higher lows, signaling a shift towards bullish control.
IINJ appears ready for an explosive move as profit-taking subsides and new investors hold. The support and resistance levels on the chart will be monitored, with updates as the market unfolds.
BTC dominance up to 60%, most altcoins experienced another pullback. The TOTAL3 index (alts excluding ETH and BTC) has dropped to 500B, impacting the broader altcoin market.IINJ has not performed well, mainly because many early investors who bought at $2 are now gradually taking profits after a 10x gain, creating ongoing selling pressure.
Despite this, IINJ continues to build partnerships (most recently with FETCH) and expand listings (such as Upbit), showing sustained investor interest. However, selling pressure has been counterproductive, limiting IINJ's ability to rally significantly.
The chart indicates a rising wedge channel, with new support levels forming and higher lows, signaling a shift towards bullish control.
IINJ appears ready for an explosive move as profit-taking subsides and new investors hold. The support and resistance levels on the chart will be monitored, with updates as the market unfolds.
Comment
Pretty accurate so far. IINJ is a solid altcoin that is catching up with BTC
IINJ is following the indicators quite accurately.
BTC.D dominance is going parabolic with a 60% BTC dominance, and of course this is impacting the altcoins negatively.
However it is just a matter of time until this situation turns in favor of altcoins,
BTC dominance never passed 70% so we are close to the historic top.
This is an updated chart for you to study.
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.