Back in winter, when everyone was super bullish and the hype around some coins, particularly INJ, was incredible, I predicted that the coin could drop to 20.
Indeed, since then, INJ/USDT has dipped into that zone several times and even fell below 20 recently.
Although I don't see INJ reaching 100 or achieving the lofty multipliers that some people dream of when trading crypto, I believe this is a good opportunity for a buy trade with a potential 50% gain.
Technically, the 20 zone is now a very strong support level and also coincides with an old congestion zone, which should provide additional support.
In conclusion, I'm looking to buy around 20, and by setting a stop loss just below the recent spike down, a risk-to-reward ratio of more than 1:2 could be achieved with this trade.
Indeed, since then, INJ/USDT has dipped into that zone several times and even fell below 20 recently.
Although I don't see INJ reaching 100 or achieving the lofty multipliers that some people dream of when trading crypto, I believe this is a good opportunity for a buy trade with a potential 50% gain.
Technically, the 20 zone is now a very strong support level and also coincides with an old congestion zone, which should provide additional support.
In conclusion, I'm looking to buy around 20, and by setting a stop loss just below the recent spike down, a risk-to-reward ratio of more than 1:2 could be achieved with this trade.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.