Injective (INJ) Marks New Low, But Recovery Possible
Injective’s price faced a setback in the last 24 hours, hitting a new year-to-date low at $21.3. Despite this, there is potential for a comeback in the near future.
Injective Investors Show Optimism
- INJ holders are demonstrating bullishness, indicating a possible price recovery.
- A decline in active deposits suggests investors are holding onto their assets instead of selling.
- Mean Coin Age is on the rise, signaling strong sentiment towards HODLing.
These factors contribute to a positive outlook for Injective’s price recovery.
INJ Price Prediction: Target at $28
Currently, Injective’s price stands at $23.9, showing resilience after dropping to $21.3. The downward pressure on the price is diminishing, paving the way for a potential recovery.
- The recovery target is set at $28.0, aligning with the 200-day EMA.
- Flipping this level to support could lead to a 20% increase in price.
On the flip side, if bearish signals prevail, the altcoin may experience further decline, potentially establishing a new year-to-date low below $21.3.
Hot Take: Is INJ Poised for a Rebound?
Despite hitting a new low, Injective’s price shows signs of resilience and potential for a recovery.
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