Injective Price Records A New ATH Over $52! INJ Price To Jump 30%?

The post Injective Price Records A New ATH Over $52! INJ Price To Jump 30%? appeared first on Coinpedia Fintech News

The crypto industry has witnessed multiple new all-time highs over the past week, indicating a strong bullish influence in the market. Bitcoin price has successfully recorded a new ATH of just over $73,000 within the past hour.

On the other hand, the Injective price has recorded a jump of over 15% within the past 24 hours, resulting in it achieving a new high. Further, the INJ token has added approximately 27% within the past seven days and 42.83% over the past 30 days.

Injective Price Records New All-time High!

The INJ price traded in a closed range between $32.47 and $36.04 for a brief period, indicating a weak price action for the coin. Following this, the price recorded a jump of 14.59% before facing rejection at the resistance level of $38.94, after which the price displayed a neutral trend for the next few days.

As the market volatility grew, the bulls lost momentum and recorded a correction of 16.61% over the next three days. After testing its low of $32.47, the bulls regained momentum and jumped approximately 47% over the next four days, indicating a bullish reversal in the market.

TradingView: INJ/USDT

After trading in a consolidated range between $38.94 and $43.93 for a brief period, the Injective token recorded a correction of 17%. However, the bulls quickly regained momentum, resulting in a bounce back in the chart. Following this, the price continued trading in the consolidated range for the next few days.

Recently, the bulls regained momentum and recorded a jump of 34%, resulting in it successfully recording a new all-time high of $52.21. Since then, the price has been trading under a bearish influence.

The technical indicator, MACD, shows a constant decline in the histogram, indicating an increase in the selling pressure within the market. Moreover, the averages display a bearish curve, suggesting a negative price action for the INJ price in the coming time.

Will INJ Price Increase?

If the bulls display a bullish trend reversal in the chart, the INJ price will regain momentum and test its resistance level of $52.21 this week. Further, if the bulls maintain the price at that level, the Injective token will prepare to test its upper resistance level of $56 over the upcoming weekend.

Negatively, if the bears continue to overpower the bulls, the INJ token will lose momentum and test its support level of $46. Moreover, if the bulls fail to regain momentum, the price will continue trading under a bearish trend and test its lower support level of $43 in the coming time.