Convergence

Injective

Divergence

The post <a href="https://coinpedia.org/price-analysis/injective-price-plunges-52-since-ath-will-inj-price-ever-recover/">Injective Price Plunges 52% Since ATH! Will INJ Price Ever Recover?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
After trading under a bearish sentiment for over a week, the INJ price has recorded a bullish jump of 11.97% within the past 24 hours, highlighting a bullish reversal for the altcoin in the crypto industry. However, the bulls lost momentum at the $28 mark, resulting in its price leveling all its gains from the pump. 
The INJ token displayed a significant uptrend over the past few weeks by adding over 40% to its portfolio. However, after recording a new ATH at $52.75, the bulls lost momentum, and the price erased all its gains from the year’s pump. Furthermore, its Year-to-Date (YTD) stands at -28.08%. 
<h2 class="wp-block-heading" id="h-inj-price-hints-at-a-bullish-reversal-nbsp">INJ Price Hints At A Bullish Reversal!&nbsp;</h2> 
The <a href="https://markets.coinpedia.org/injective/">Injective price</a> displayed a neutral trend by trading in a consolidated range between $30.55 and $43.35 until the second week of March. Following this, the bulls gained momentum, broke out of the resistance level, and jumped 31.54% in valuation, resulting in the INJ price recording a new ATH. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/AkcpuIjZ98DwsSRMQUXc6ZyjqSUdnkHvN10k7QPANTrA4xbyeOMueqvEdwvxePCoG8mYlNPQVpkI8csatnOafALKG18l4HDmPwBFXqfuhO1oAelDOsMAD9T2EZo180GQZouWnQ6Jtng5U7X4C031tg" alt="Injective Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: INJ/USDT
 </figcaption>
</figure> 
After this, the bulls lost momentum and recorded a correction of 50.36% over the next 33 days. Further, its price is constantly hovering close to its important support level at $23.36 with its EMA 200-day acting as a resistance to the price action, indicating a mixed sentiment in the crypto space. 
The Moving Average Convergence Divergence (MACD) displays a constant decline in the red histogram, indicating a decrease in the selling pressure within the crypto market. Moreover, the averages show a high potential for a bullish convergence, suggesting the price may experience increased price action in the coming time. 
Read Also : <a href="https://coinpedia.org/price-analysis/matic-price-set-to-surge-despite-bearish-netflow-heres-what-to-expect/">MATIC Price Set To Surge Despite Bearish Netflow! Here’s What To Expect</a> 
<h2 class="wp-block-heading" id="h-how-high-will-injective-price-go">How High Will Injective Price Go?</h2> 
If the market holds the price above the support level of $23.36, the bulls will regain momentum and prepare to test its resistance level of $30.55. Furthermore, if the bulls maintain the price at that level, it will further rise and prepare to test its upper resistance level of $36.35 during the upcoming week. 
However, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $18.50 this month. 
Also Check Out : <a href="https://coinpedia.org/price-analysis/mnt-price-analysis-reports-a-potential-surge-to-2-this-month/">MNT Price Analysis Reports A Potential Surge To $2 This Month</a>

Injective Price Plunges 52% Since ATH! Will INJ Price Ever Recover?

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