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In this analysis, I want to review the INJ coin for you. It’s one of the RWA and AI projects, currently ranked 63 on CoinMarketCap with a market cap of $1.51 billion.
📅 Daily Timeframe
On the daily timeframe, after a drop to the 6.94 level, this coin has bounced back and is now moving upward along with a rising trendline.
✨ A strong support has formed at 10.28, and after price reacted to this level, a new bullish leg started and pushed the price up to 16.04.
🔔 There is a Maker Seller zone around 16.04 that has repeatedly prevented the continuation of the upward move, and currently price is struggling with it again.
📈 Breaking this zone will initiate a new phase of the trend. I plan to have a long position open if 16.04 is broken.
🛒 This trigger is also suitable for spot buying, and if Bitcoin pair and Bitcoin dominance confirm the move, we can consider buying in spot too. But personally, I prefer opening a futures position.
💥 Breaking the 72.87 zone on the RSI will be a solid confirmation for the entry of bullish momentum, and with this breakout, a new bullish leg can begin.
🔽 If a correction happens, I will wait for the trendline to break and will not open a short position for now.
Currently, the first trigger we have for a short is at 10.28.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I want to review the INJ coin for you. It’s one of the RWA and AI projects, currently ranked 63 on CoinMarketCap with a market cap of $1.51 billion.
📅 Daily Timeframe
On the daily timeframe, after a drop to the 6.94 level, this coin has bounced back and is now moving upward along with a rising trendline.
✨ A strong support has formed at 10.28, and after price reacted to this level, a new bullish leg started and pushed the price up to 16.04.
🔔 There is a Maker Seller zone around 16.04 that has repeatedly prevented the continuation of the upward move, and currently price is struggling with it again.
📈 Breaking this zone will initiate a new phase of the trend. I plan to have a long position open if 16.04 is broken.
🛒 This trigger is also suitable for spot buying, and if Bitcoin pair and Bitcoin dominance confirm the move, we can consider buying in spot too. But personally, I prefer opening a futures position.
💥 Breaking the 72.87 zone on the RSI will be a solid confirmation for the entry of bullish momentum, and with this breakout, a new bullish leg can begin.
🔽 If a correction happens, I will wait for the trendline to break and will not open a short position for now.
Currently, the first trigger we have for a short is at 10.28.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: [email protected]
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.
💥 Don’t Miss Out!
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: [email protected]
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: [email protected]
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.