Chart by TradingView
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.
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.
The bias for INJ is bullish.
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.
