Here’s a detailed **technical analysis** of the chart you uploaded for **INJ/USDT (Injective Protocol)** on the **1D (Daily) timeframe** using **Heikin Ashi** candles and the **WaveTrend Cross Indicator (WT\_CROSS\_LB)**:
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📊 **Current Price Zone:**
* **Current Price:** \~\$13.59
* **Sell/Buy Spread:** \$14.18 Sell / \$14.19 Buy
* **Daily Range:** \$12.83 – \$14.06
* **Volume:** Moderate, slightly increasing on green candles — showing growing interest.
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📈 **Price Structure (Heikin Ashi Candles):**
* Recent series of **strong green candles** — Heikin Ashi confirms trend direction well.
* Steady **bullish momentum** after the reversal from \~\$8.5–9.0 zone in late May.
* Price has formed a **higher low** and now attempting a **higher high**, indicating a potential trend reversal.
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📉 **WT\_CROSS\_LB (WaveTrend Oscillator):**
* **WaveTrend lines are surging upward**, indicating **strong bullish momentum**.
* Green dot confirmed around mid-June (early entry signal).
* The oscillator is now approaching the **+60 zone** — nearing **overbought territory**, so a short-term pullback could happen soon.
* Previous tops at similar levels have resulted in **minor corrections**, so watch closely for divergence or exhaustion.
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🧱 **Support & Resistance Levels:**
* **Immediate Support:** \$11.20 – \$12.00 range (recent base)
* **Current Resistance Zone:** Around \$14.50–\$15.00
* **Major Resistance Ahead:** \$17.50 and \$20.00 (psychological round numbers)
* **Macro Resistance:** \~\$26 and \$35 (based on previous highs)
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🔄 **Trend Overview:**
* **Short-Term:** Bullish (higher lows, strong momentum)
* **Medium-Term:** Reversal in progress — needs a break above \$15 for confirmation.
* **Long-Term:** Still under macro resistance (\~\$20+), but shaping into recovery mode after long downtrend.
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⚠️ **Key Risks & Notes:**
* WaveTrend is nearing overbought → watch for divergence or volume drop.
* Macro resistance levels remain strong — sentiment shift or BTC weakness could drag it back.
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✅ Summary:
INJ is showing **early bullish structure**, with momentum indicators supportive of further upside.
It’s approaching resistance near \$14.5–15.0, which, if broken, could open up room toward \$17 and beyond.
A small consolidation/pullback is healthy here.
Volume and broader market sentiment will be critical to watch.
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Disclosures:
This analysis is for informational purposes only and is not financial advice. It does not constitute a recommendation to buy, sell, or trade any securities, cryptocurrencies, or stocks. Trading involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
---
📊 **Current Price Zone:**
* **Current Price:** \~\$13.59
* **Sell/Buy Spread:** \$14.18 Sell / \$14.19 Buy
* **Daily Range:** \$12.83 – \$14.06
* **Volume:** Moderate, slightly increasing on green candles — showing growing interest.
---
📈 **Price Structure (Heikin Ashi Candles):**
* Recent series of **strong green candles** — Heikin Ashi confirms trend direction well.
* Steady **bullish momentum** after the reversal from \~\$8.5–9.0 zone in late May.
* Price has formed a **higher low** and now attempting a **higher high**, indicating a potential trend reversal.
---
📉 **WT\_CROSS\_LB (WaveTrend Oscillator):**
* **WaveTrend lines are surging upward**, indicating **strong bullish momentum**.
* Green dot confirmed around mid-June (early entry signal).
* The oscillator is now approaching the **+60 zone** — nearing **overbought territory**, so a short-term pullback could happen soon.
* Previous tops at similar levels have resulted in **minor corrections**, so watch closely for divergence or exhaustion.
---
🧱 **Support & Resistance Levels:**
* **Immediate Support:** \$11.20 – \$12.00 range (recent base)
* **Current Resistance Zone:** Around \$14.50–\$15.00
* **Major Resistance Ahead:** \$17.50 and \$20.00 (psychological round numbers)
* **Macro Resistance:** \~\$26 and \$35 (based on previous highs)
---
🔄 **Trend Overview:**
* **Short-Term:** Bullish (higher lows, strong momentum)
* **Medium-Term:** Reversal in progress — needs a break above \$15 for confirmation.
* **Long-Term:** Still under macro resistance (\~\$20+), but shaping into recovery mode after long downtrend.
---
⚠️ **Key Risks & Notes:**
* WaveTrend is nearing overbought → watch for divergence or volume drop.
* Macro resistance levels remain strong — sentiment shift or BTC weakness could drag it back.
---
✅ Summary:
INJ is showing **early bullish structure**, with momentum indicators supportive of further upside.
It’s approaching resistance near \$14.5–15.0, which, if broken, could open up room toward \$17 and beyond.
A small consolidation/pullback is healthy here.
Volume and broader market sentiment will be critical to watch.
--
Disclosures:
This analysis is for informational purposes only and is not financial advice. It does not constitute a recommendation to buy, sell, or trade any securities, cryptocurrencies, or stocks. Trading involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
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.
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.