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Cryptocurrency News Articles
Will Injective (INJ) Price Retest Range Highs? Key Levels to Watch
Feb 11, 2025 at 03:30 am
Traders are watching Injective's price closely as it approaches its recent range highs. Moreover, technical analysis looks good, with crypto trader Seth weighing in on X: “Time for $INJ to retest range high.
Cryptocurrency trader Seth has shared his thoughts on Injective (INJ), anticipating a retest of the range high. Here's a closer look at the key levels and technical analysis.
Injective (INJ) price has been closely watched by traders as it approaches recent range highs. A recent analysis by a crypto trader, who goes by Seth on X, suggests that INJ is poised for a move toward the range high.
The technical analysis points to a favorable risk-to-reward setup for INJ, with potential for a strong move up. As per the analysis, if support holds and the price can sustain momentum, a move toward the range high could present significant upside potential compared to the downside risk.
Moreover, the analysis highlights the range low at $13.00–$14.00 as a solid support level, where INJ's price has found footing. On the upside, the range high around $25.30 is a key resistance point. Traders are watching whether the price can sustain momentum to test this level.
The chart also indicates a possible Elliott Wave formation. According to the projection, INJ's price action since December 2024 shows a consistent downtrend marked by lower highs and lower lows. However, February 2025 has shown signs of a potential reversal, as the price recently rebounded from the $13.00–$14.00 support zone.
The analysis identifies two Elliott Waves thus far, with Wave (1) signaling the beginning of an uptrend and Wave (2) being a corrective pullback. The projection suggests further upward momentum, with Wave (3) expected to show significant strength.
Injective (INJ) technical analysis by Seth on X: Time for $INJ to retest range high. Injective risk to reward here is sick. #Crypto
If you're interested in learning more about INJ and its price movements, check out the following articles:
-INJ May Drop 30% After Hitting Hidden Resistance
-INJ Price Prediction 2025: Will Injective Hit $50 This Year?
-The Complete Guide To Staking Injective (INJ) TokenᎻᎬᏞᏢᎬᎠ
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