INJUSDT trade ideas
Sharp Pullback ComingMonster move post-breakout. Think we're very close to the top for this leg. Felt pretty heavy today. High volume but price barely moved, which could mean sellers coming back in. The Bitcoin pair poked through ATH and may need a rest as well. RSI on both pairs are very heated.
Looking to re-enter in the white box if it gets down there
$INJ - Massive bull scenario
Target 3: 23.757
Target 2: 21.580
Target 1: 20.353
Resistance level :18.126
What Is Injective Protocol (INJ)?
Injective is a blockchain built for finance. It is an open, interoperable layer-one blockchain powering next-generation DeFi applications, including decentralized spot and derivatives exchanges, prediction markets, lending protocols and more.
Injective uniquely provides powerful core financial infrastructure primitives that applications can leverage, including a fully decentralized MEV-resistant on-chain orderbook. In addition, all forms of financial markets such as spot, perpetual, futures and options are fully on-chain. The decentralized cross-chain bridging infrastructure is compatible with Ethereum, IBC-enabled blockchains, and non EVM chains such as Solana.
Injective also provides a next-generation, highly interoperable smart contract platform based on CosmWasm, with advanced interchain capabilities. Injective is custom built with the Cosmos SDK and utilizes Tendermint-based Proof-of-Stake consensus mechanism, providing instant transaction finality with the ability to sustain lightning-fast performance (10,000+ TPS).
The Injective ecosystem includes 100+ projects and over 150,000 community members globally. Injective is backed by a group of prominent investors such as Binance, Pantera Capital, Jump Crypto and Mark Cuban.
INJ consolidation in demandINJ has consolidated into the local demand on the daily perfectly over the past few days. The uptrend is starting with emas coiling upward and RSI breaking out of a range. The average volume is up on the weekly. The two dashed lines are historical resistances before we grasp for all-time-highs. The token is ranging right in the middle of the Bollinger bank which gives another signal of a strong consolidation phase. I expect another shot at making the fib .618 a stronger support. I think we take a shot at 19$ soon.
INJ/USDT Technical and Fundamental AnalysisTitle: INJ/USDT Technical and Fundamental Analysis
Bias: Neutral to Bullish
Technical: INJ shows a breakout from a consolidation pattern, suggesting a potential uptrend.
Fundamental: Injective's launch of a bridge to Solana and introduction of tokenized US Treasuries may attract interestโโโโ.
Direction: Watching for sustained breakout for confirmation.
Entry: Current price if upward trend continues.
Stop Loss: Below the pattern at approximately $16.00.
Targets: $20.657 as a potential target in case of continued momentum and positive market response to recent developmentsโ
INJ correction 30-35%most of pairs against usdt pumped to complete full cycle INJ one of the strong pairs against BTC and USDT show very powerful move all the way around 20 $ area which remind me of LINK/USDT at 2020 didn't stop all the way to 20$ .for now INJ showing sign of weakness at current area expecting correction all the way down to 10-11$ range to start new wave
INJ dipping perfectly into daily demandINJ has rejected the .886 fib level and slumped back to local demand, this seems to be a fairly supportive structure. I marked two areas of historical importance with dashed greens. The recent green engulfing candle signals that the trend will likely reverse and the .886 may be taken soon. Volume is still high on average. I think we see a few days fighting for 15.84 and then we reach my second price target as a resistance with is closing on all-time-highs soon. These pullbacks are necessary to build structure and to wash out the short-term traders.
INJ injective bearish ๐ป analysis โฐI am expecting bearish ๐ป on BINANCE:INJUSD
Invalid ๐ above $16 day above
๐ R.s.i reaching over sold // bearish divergence
๐ Parallel channel ๐ formation
+
$12-14 expecting rejection towards $7.5-8.9
If parallel channel was broken ๐คฃ $2-6 ๐๐
Don't hate if u ar fan ๐ of BINANCE:INJUSDT just market ๐ is all about bull ๐ and bear ๐ป
$12-14 >> $7.5-8.9 // worst case ๐ below $6.8 >> $2-6
INJ consolidating for another attempt at fibINJ has built a decent amount of support here on the blue horizontal. RSI has fallen meaningfully. A demand is drawn for a potential bounce zone if the token rolls over. The teal line is the .618 that has been rejected a few times, the more attempts the merrier. I think the token is prepping for a large move to the upside in the coming days if BTC behaves.
INJ Neowave - Elliott Wave Theory Analysis (Daily - Medium Term)INJ is performing very well in 2023.
The waves are quite similar in price, there is a possibility that the structure could be diametric. In this case, I would say that $13 is a very good level in terms of costing. The point to watch out for is the possibility of the structure turning into a symmetrical structure because in this case it should touch the 'dashed' trend support so that we can see waves 'H' and 'I' in the continuation of the trend. This could also be the opportunity of the year.
Nevertheless, we will discuss this situation in the weekly updates. I will update the analysis on Mondays and have a profitable day.