Massive Rollercoaster for INJ but $9 Resistance Persists, What’s Next? (Injective Price Analysis)

Injective is in a bull market since January, and the price hasn’t looked back since.

Key Support levels: $6

Key Resistance levels: $10

Injective have had an amazing rally in the past four months, increasing by over 600% or from $1.3 to $8. The price does not seem to take any breaks, with bulls determined to take it to $10, where the key resistance awaits. The current support is at $6.

INJUSDT_2023-04-27_18-53-47
Chart by TradingView

Trading Volume: The buying volume continues to be high and sustained since January. This explains the quick ascent of the price.

RSI: The daily RSI is just under 70 points. The RSI has been hovering around this level since January. So long it stays here, the bias remains bullish.

MACD: The daily MACD is curving up and may do a bullish cross soon, which could take the price to $10.

INJUSDT_2023-04-27_18-54-02
Chart by TradingView

Bias

The bias for INJ is bullish.

Short-Term Prediction for ADA Price

The bullish momentum could continue. But it would be critical to see how the cryptocurrency will perform if it manages to get to the important resistance at $10.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source: https://cryptopotato.com/massive-rollercoaster-for-inj-but-9-resistance-persists-whats-next-injective-price-analysis/