Injective

The post <a href="https://coinpedia.org/price-analysis/inj-price-analysis-is-inj-price-set-for-a-price-correction-soon-2/" rel="noopener noreferrer nofollow">INJ Price Analysis: Is INJ Price Set For A Price Correction Soon?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With a sideways trend in the daily trend, the underlying sentiments in the altcoins are on a bullish reversal. As the broader market improves, the INJ price shows a recovery rally gaining momentum.&nbsp;
The altcoin trades at a discount of 45% from its all-time high, revealing massive upside potential. Will the uptrend in the Injective protocol surge above the $30 mark? Let’s find out more in the INJ price analysis.
<h2 class="wp-block-heading" id="h-injective-reveals-bullish-pattern-for-35-upside">Injective Reveals Bullish Pattern For 35% Upside</h2>
With a market cap of $2.75 billion, the INJ price has increased by 7.5% in the last 24 hours. Further, the 25% jump in the last ten days projects an impressive recovery rally gaining momentum.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfbFPwIp_1XFq_AoJY75mBktYY1BwUxOksJ9kCZtDfKtrHwjfZkmwrZj3zXRAUL3UWkDMGKSr2kHApNKeXrJRD3AZtH_LMy0Ksg7BSq_-ISJ1ZcXtQWKNNOdWTgTQgNRcFMKQpL_ALynBHdJLQIMd-Le-Pj?key=8qdZyWRQiDzFGQXzCZC9Og" alt="">
</figure>
<a href="https://www.tradingview.com/x/i37uvXo4/" rel="noopener noreferrer nofollow">Tradingview</a>
Further, the INJ price action shows an inverted head-and-shoulder pattern with a neckline at $30. This pattern suggests a bullish trend possibility in the Injective protocol.&nbsp;
Currently, the altcoin trades at $29.508 with an intraday gain of 0.62% teasing a bullish breakout today. In case, the uptrend sustains to cross $30, the sideline traders can witness a huge surge in the coming days.&nbsp;
Technical indicator:
EMA: The 50D and 200D EMA resist a bearish flow as the INJ price recovers. Further, the average lines tease a golden crossover teasing a bullish reversal.&nbsp;
RSI: The daily RSI line shows an increase in buying pressure as it crosses into the overbought boundary.&nbsp;
<h2 class="wp-block-heading" id="h-will-the-inj-price-reach-40">Will The INJ Price Reach $40?</h2>
If the buyers maintain the trend control and hold the price above $30, then the INJ price can continue the uptrend at high momentum. Further, with the bullish breakout of the inverted head and shoulder, the altcoin can reach the $40 mark at the 61.80% Fibonacci level.&nbsp;
On the contrary, if the bears sustain dominance at the $30 neckline, then the recovery rally will lose momentum and might fall to the support level of $21.&nbsp;

INJ Price Analysis: Is INJ Price Set For A Price Correction Soon?

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