Injective (INJ) Gearing Up For $10 Level Retest – Is A Bullish Reversal Ahead?
Injective (INJ) is approaching a potential retest of the $10 resistance level after a 43% surge from its 18-month low of $6.34. The cryptocurrency reached a six-week high of $10.63 before retracing. Analysts indicate that INJ has faced resistance in the $9.5-$10 range and may retest support levels between $9.00-$9.20 before attempting another breakout. Following a recent drop, INJ traded between $9.00-$9.40, briefly hitting $8.90. A breakout above $10 could lead to a bullish reversal, targeting the $14 barrier. An inverse Head and Shoulders pattern suggests a potential shift to an uptrend, with the neckline around $10.30. Analysts believe INJ is undervalued at its current price of $9.25, which reflects a 27.2% increase over the month. The project recently announced that major stocks are now tradable on its platform, enhancing its market position.
