Cryptocurrency prices have been rallying over the past few weeks, and one token that has performed exceptionally well is INJ. The INJ price finally broke through a key price level that had been keeping it down for a bit. Now, everyone is watching to see how the price performs.
The INJ price chart shows a clear horizontal resistance zone between $28 and $30. This level is a crucial target for the ongoing upward momentum. At press time, INJ trades at $22.12. It managed to push through a descending price line that had been keeping it down. This strong move up is indicating that more buyers are stepping into the market.
If INJ continues moving in this manner, we can expect it to push towards the $28-$30 zone, where we will likely see a lot of trading activity. A decisive move past this range could pave the way for further gains, with $32 and $40 emerging as potential upward targets. However, a rejection at this level could lead to consolidation or a retracement of INJ’s price.
The analysis also highlights strong support levels that could provide a safety net for the price. A lower trendline has been serving as a base for the recent upward movements and remains intact. If the price faces downward pressure, it may revisit this trendline or the $20–$18 support range before resuming its bullish trajectory.
This structure provides critical points for traders' risk management, as the support and resistance levels frame the near-term trading range.
The breakout above the descending resistance trendline also indicates a potential shift in market sentiment. While volume data is not visible in the chart, the sharp upward movement suggests robust momentum. High trading volume would further validate the strength of this breakout.
Market participants will be watching to see if INJ's price can sustain this trend or faces challenges in surpassing the $28–$30 resistance.
This concludes our analysis of INJ's price movement. As always, caution is advised, especially as the token approaches the resistance zone. Good luck trading INJ and stay tuned for more crypto updates.
