Injective (INJ) Bulls Pushing Price as Recovery Takes Hold
After hitting an all-time high nearly two weeks ago, the price of INJ has turned bearish. However, in the past three days, there has been a recovery with an increase of over 15%. The question now is whether INJ will be able to break out of its current consolidation phase.
Injective Investors Are Making Moves
– INJ price is now at $40.17, up from $35.02 72 hours ago.
– This has sparked bullish signs for investors following a 32% correction in mid-March.
– Active addresses conducting transactions on the INJ network are driving the price, indicating investor confidence.
– INJ holders are eagerly waiting for a price surge to realize profits.
– The optimism among holders is boosting bullish momentum for INJ.
Whale Addresses Hold the Key
– Whale addresses, holding 84% of INJ’s circulating supply, need to be more active for price rallies.
– These holders currently conduct $7 million worth of transactions on average with a total volume of $14 million.
– Their increased participation could push the price of INJ even higher.
INJ Price Prediction: Targeting $45
– INJ price is currently testing resistance at $41, aiming for a breakthrough to rise further.
– A successful breach of $45 could see INJ challenging its all-time high of $51.85.
– Failure to breach $45 may lead to a retracement towards $35, with further downside potential to $31.
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Hot Take: Potential Price Movements Ahead
The coming days will be crucial for INJ as it tries to break out of its consolidation phase. Keep a close eye on key resistance levels to gauge the potential price movements. Stay informed about market trends and investor sentiment to make well-informed decisions regarding your INJ holdings.
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