Injective Dropped -34.58% in Last Month and is Predicted to Drop to $5.27 By May 22, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Injective is down -4.07% today against the US Dollar
• INJ/BTC decreased by -3.57% today
• INJ/ETH decreased by -4.43% today
• Injective is currently trading 16.34% above our prediction on May 22, 2023
• Injective dropped -34.58% in the last month and is up 208.00% since 1 year ago

INJ price is expected to drop by -13.97% in the next 5 days according to our Injective price prediction

Injective price today is trading at $ 6.13 after losing -4.07% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -0.98% in the same time period. INJ performed poorly against BTC today and recorded a -3.57% loss against the world’s largest cryptocurrency.

According to our Injective price prediction, INJ is expected to reach a price of $ 5.27 by May 22, 2023. This would represent a -13.97% price decrease for INJ in the next 5 days.

INJ Price Prediction Chart

Buy/Sell Injective

What has been going on with Injective in the last 30 days

Injective has been displaying a negative trend recently, as the coin lost -34.58% in the last 30-days. The medium-term trend for Injective has been bullish, with INJ increasing by 56.37% in the last 3 months. The long-term picture for Injective has been positive, as INJ is currently displaying a 208.00% 1-year price change. On this day last year, INJ was trading at $ 1.99.

Injective reached its all-time high price on Apr 30, 2021, when the price of INJ peaked at $ 24.91. The current INJ cycle high is $ 9.86, while the cycle low is at $ 1.13. INJ has been displaying high volatility recently – the 1-month volatility of the coin is at 12.84. Injective recorded 14 green days in the last 30 days.

Injective technical analysis for today – May 17, 2023

The sentiment in the Injective markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 5.96, $ 5.77 and $ 5.51, while $ 6.40, $ 6.65 and $ 6.84 are the key resistance levels.

Bearish sentiment for Injective

11 indicators are currently signaling a bullish prediction for Injective, while 15 indicators are showing a bearish forecast. With 58% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Injective.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 50 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Injective moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Injective is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Injective is at 45.51, suggesting that INJ is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Injective over the last 50 days. Currently, Injective is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the INJ closing price for the last 200 days. INJ is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Injective prediction

After considering the above factors, we can conclude that the current forecast for Injective price prediction is Bearish. INJ would have to decrease by -13.97% to hit our $ 5.27 target within the next five days. Moving forward, it will be important to monitor the INJ market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Injective price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.