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Injective ( INJ ) keeps up its rise, we will analyze past price movements through charts and technical indicators. We will determine support and resistance levels and guide investors about buying and selling decision.
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2023 was quite satisfactory for many investors, and the Injective project also secured a strong place among these coins. At the end of this successful year, the Injective (INJ) project achieved a rise of 3183%. However, considering the general trend of the crypto market, a correction movement in Bitcoin is expected in the last month of 2023.
Therefore, it is predicted that the INJ coin may also be affected by this correction movement and may show a decrease. Although a clear decrease pattern is not yet evident, considering that some indicators are overly inflated, the probability of a decrease increases.
Which Regions Can Be Expected If There’s a Correction at Injective?
Recently in Injective, with the rises observed, there was an increase up to 40 dollars. This rise indicates that we are in a general uptrend in the crypto market. If this positive momentum continues, the rise in Injective can be carried up to levels of 90 dollars.
However, when the crypto market enters a general correction, a downward trend can be observed in Injective. In the first stage, a retreat is expected up to 27 dollars. Also, if this level is breached, there could be a potential decline to 18.40 dollars and 14.50 dollars levels.
During this decrease process, when it comes to a buying position, levels of 9.5 dollars, followed by 7.60 dollars and then possibly 5.50 dollars can be considered. It could be considered to gradually buy when these price levels are reached.
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