Crypto Analyst Predicts INJ is Setting the Stage for a Bullish Reversal
An analyst popular in the crypto space shared insights into the future potential of decentralized finance (DeFi) and identified the probable trajectory of the altcoin Injective Protocol (INJ).
According to the analyst, INJ is currently valued at $16.55, and could potentially revisit its all-time high of around $21.40, provided it stays above the crucial levels of $13.50 and $11.23.
A Look at the Future of Solana
The analyst also discussed the outlook for Solana (SOL), suggesting that a healthy pullback to $42 may be imminent, although a correction to as low as $23 is also possible, considering the current trading price of $59.66.
Cardano, Polkadot Also in Focus
Furthermore, the analyst shed light on Cardano (ADA) and Polkadot (DOT), pointing out that Cardano is trading within a broad range with resistance at $0.40 and support at $0.24, while Polkadot could witness further rallies if it remains above its diagonal support at around $5.
Hot Take
Analyst Says DeFi Altcoin Gearing Up To Revisit All-Time Highs, Updates Outlook on Solana, Cardano and Polkadot. Based on the current market analysis, there are bullish signals being seen in INJ, SOL, ADA, and DOT. The analyst forecast that despite potential pullbacks, these altcoins have the potential to revisit all-time highs, making them viable options for investors.
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