Injective price prediction highlights the recovery trend of INJ crypto, targeting the $10 threshold on the chart. Notably, INJ price stood out as a top gainer in 2023, boasting an impressive year-to-date surge of 505.21%. The cryptocurrency is striving to uphold its upward momentum to surpass the $10 resistance level.
However, achieving the $10 milestone is possible if INJ price first breaks out from its primary resistance points at $8.25 and subsequently from $9.00.
Injective price was at $7.576 and has gained 5.34% of its market capitalization during the day’s trading session. Trading volume increased by 32.86% during the intraday trading session. This demonstrates that buyers are trying to push INJ price upwards. Volume to market cap ratio was 12.10%.
Injective price is displaying a robust uptrend on the daily chart as per its price prediction. To reach the $10 mark, INJ needs to sustain buyer accumulation. Yet, trading volume is lower than usual, and needs an intraday increase. INJ crypto is currently trading above its 200-day moving average and is aiming for a surge above the 20, 50, and 100-day moving averages.
The past week saw Injective’s price decline by 0.96%, and over the course of a month, it decreased by 14.16%. However, over the past three months, INJ crypto registered a 9.32% gain, and in the preceding six months, it surged by 74.09%. Impressively, INJ crypto achieved an outstanding 505.21% surge year to date, solidifying its substantial recovery throughout 2023.
Technical indicators highlight the upside trend of Injective price. The relative strength index (RSI) and moving average convergence divergence (MACD) both confirm the positive momentum of INJ crypto.
RSI was at 44 and is heading towards neutrality. The MACD line is moving towards the signal line for a positive crossover. Investors in Injective cryptocurrency need to wait until INJ crypto approaches the upper recovery level over the daily time frame chart.
Summary
Injective price prediction points to a resurgence in INJ crypto, with a focus on reaching the $10 mark. Yet, reaching this goal is contingent upon INJ crypto successfully surpassing its initial resistance levels at $8.25 and subsequently $9.00. However, the current trading volume is below its usual level, indicating the need for an uptick intraday. Notably, INJ crypto surged by a remarkable 505.21% year to date, reinforcing its substantial rebound in 2023. Technical indicators further suggest a positive trajectory for Injective price.
Technical Levels
Support Levels: $6.92 and $6.35
Resistance Levels: $8.25 and $9.03
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/08/18/injective-price-prediction-inj-is-one-of-the-top-gainers-in-2023/