Injective (INJ) Price Analysis
Injective (INJ) pushed above a critical resistance level last week as it moved past $23 on Thursday, opening the possibility of a move to $25. INJ pushed above $23 on Tuesday when it registered an increase of 2.50% and settled at $23.05. INJ continued to push higher on Friday, registering a rise of 2.51% and settling at $23.62. However, with sellers active at these levels, INJ fell back on Saturday, dropping over 3% to slip below $23 and settle at $22.86. Volatility increased on Sunday as buyers and sellers struggled to establish control. Sellers attempted to drag INJ lower while buyers attempted to push it back above $23. In the end, buyers took control and pushed the price back above $23 after an increase of 1.75%
The current week began with persisting volatility, similar to Sunday. This time, sellers gained the upper hand, pushing INJ down by 1.47% to $22.92. The current session has seen bullish sentiment return, with INJ up over 6% and trading around the $24 price level. Buyers will look to push INJ above the 200-day SMA and $25. On the other hand, sellers will look to drive the price back below $23
