Injective (INJ) and Vanar Chain (VANRY) Prices Moving as Predicted – Here's When to Expect a Rally

In the latest newsletter from Rekt Capital, the analyst provided an insightful examination of two cryptocurrencies: Vanar Chain (VANRY) and Injective (INJ).

In the latest Rekt Capital newsletter, two cryptocurrencies came under the analysts' scanner: Vanar Chain (VANRY) and Injective (INJ).

Highlighting recent developments around Vanar Chain, the analysts noted its Falling Wedge-like structure and stated that, for VANRY to continue its uptrend, it needed to retest the crucial support level of $0.088. Following this retest, VANRY closed above the upper boundary of its blue pattern, confirming a breakout.

Today’s chart showed that VANRY followed its projected green path successfully, breaking out from the blue downtrending channel. Notably, this technical move put VANRY up for a challenge against a crucial Macro Downtrend that had been in place since mid-March 2024.

According to the analysts, a weekly close above this downtrend could be a powerful signal for VANRY to begin a new macro uptrend.

Injective – INJ/USDT

Moving on to Injective, the analysts recalled their previous discussions about INJ’s downtrending channel consolidation, from which INJ managed to reclaim the critical $18.02 level. This enabled it to break out from its Falling Wedge structure.

Following this breakout, INJ clocked an impressive 21% increase, bringing it closer to the orange Range High at $23.46.

For further upward momentum towards the red-boxed resistance around $27.50, INJ needs to secure a weekly close above the orange Range High. Until then, there is a possibility of a pullback to the top of the Wedge from which it broke out, serving as a post-breakout retest.

The analysts noted two key levels that were visually represented by blue circles: one highlighting the necessity of closing above the orange Range High and the other indicating the potential for a pullback.

Overall, while INJ has made efforts to break out from its previous structure, it remained trapped between the $18.02 Range Low and the $23.46 Range High, suggesting ongoing consolidation. Despite the breakout signaling a potential new uptrend, the analysts stated that INJ might have to spend some time within this re-accumulation phase before building on its newfound momentum.

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