Rally

Injective

Momentum

Divergence

<ul class="wp-block-list">
 <li>Injective marked a spike of over 10%, over the day.</li>
 <li>South Korean crypto exchange Upbit announces to list the INJ.</li>
</ul>
The crypto market is briefly rebounding as the anticipated October momentum steamed. The altcoin, Injective (INJ) has soared over 10% in the early hours, crossing the $23 mark. The INJ rally coincides with the listing on the South Korean crypto exchange, Upbit.&nbsp;
Upbit has officially <a href="https://upbit.com/service_center/notice?id=4562" target="_blank" rel="noopener noreferrer nofollow">listed</a> Injective (INJ) to its trading platform, enabling investors to trade the token in KRW (Korean Won) and USDT markets. Trading for INJ is set to begin on October 17, 2024, at 18:15, as per <a href="https://thenewscrypto.com/upbit-slashes-withdrawal-fees-for-22-cryptos-effective-august-23/" target="_blank" rel="noopener noreferrer nofollow">Upbit</a>’s official announcement.&nbsp;
Besides, the analysts anticipate INJ could soon hit the potential $24 range, as the listing expects to boost Injective’s liquidity.&nbsp;
Despite the surge, the INJ price failed to rise further, instead dropping to a low of $20.36. Currently, the asset is trading at $21.37, noting a moderate gain of 1.16%. Amid this, INJ’s daily trading volume has surged by over 107%, positioned at around $249 million, according to CMC <a href="https://coinmarketcap.com/currencies/injective/" target="_blank" rel="noopener noreferrer nofollow">data</a>. Meanwhile, the market recorded a liquidation of $966.16K worth of Injective during this timeframe, as per <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">Coinglass</a>.&nbsp;
<h3 class="wp-block-heading" id="h-what-s-ahead-for-inj">What’s Ahead for INJ?</h3>
Evaluating the past thirty days, INJ has gained by 9.38% and marked the monthly low at $18.61. When looking at the weekly price momentum, a steady spike above 9.40% is noted. Eventually, the asset climbed from $18 to a high of $22 mark.&nbsp;
Looking ahead at the revival of INJ, the initial resistance could be tested at the $23.77 range. If the bullish wave sustains, the price will go high. Conversely, a strong bearish trajectory of the asset could take the price to immediate support near the $19.63 zone.&nbsp;
While analyzing the 24-hour price chart, Injective’s daily relative strength index (RSI) stood above 54, indicating the asset’s presence in the neutral zone. Moreover, the technical indicators of the token, the short-term 9-day MA and long-term 21-day MA were at $20.95 and $21.26, respectively.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeaIDNKMl-mNWSX1QD0-HKDP6sWPSd86FggbifQNtpPm3lYEUSRURluSqtyEEurNJjUqvhTXP_asqzC9RrKlWPMC6jD7vRvF9fC-W5FN0QVGPRetmqxKdPDqWMbWDqXZDNna_LGxYJWR0u9oZxCC0kDOXR-?key=z_3cQIxsLl4vA1x-g55EEg" alt="">
 <figcaption class="wp-element-caption">INJ price chart (Source: <a href="https://in.tradingview.com/symbols/INJUSDT/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Furthermore, the Moving Average Convergence Divergence (MACD) line falls below the signal line, suggesting a bearish sentiment that may trigger the incoming bear run.&nbsp;
Highlighted Crypto News&nbsp;
<a href="https://thenewscrypto.com/can-ethereum-eth-rebound-as-uptober-momentum-builds/" target="_blank" rel="noopener noreferrer nofollow">Can Ethereum (ETH) Rebound as Uptober Momentum Builds?</a>

Can Injective (INJ) Continue Its Rally Following the Upbit Listing?

Table of Contents

TheNewsCrypto

Other articles published on Oct 17, 2024

BEP20 FIRO Liquidity Injection

Cilinix Crypto Update on Pepe Unchained Presale Hitting $20M Milestone – Next 10X Crypto Launches...

Gary Cardone Hints at Major XRP Surge: Expectations Rise Among Investors

Arthur Hayes Predicts Middle Eastern Conflict Could Boost Bitcoin Prices

FTX News: Nishad Singh Seeks Leniency Amid Fraud Case

Nansen integrates Solana analytics, touts memecoin alpha

Join our free newsletter for daily crypto updates!