$INJ/USDT 1D (#Bybit) Rising wedge on resistance

Injective Protocol is entering overbought territory and could retrace down to 100EMA support, after a last push up into supply zone.

⚡️⚡️ #INJ/USDT ⚡️⚡️
Exchanges: Binance Futures, ByBit USDT
Signal Type: Regular (Short)
Leverage: Isolated (2.2X)
Amount: 4.9%

Current Price:
7.0720

Entry Zone:
7.1290 - 8.0450

Take-Profit Targets:
1) 5.8905
2) 4.6130
3) 3.3355

Stop Targets:
1) 9.0065

Published By: @TradingOn

INJ #INJUSDT #Injective #DeFi #Web3 injective.com

Risk/Reward= 1:1.2 | 1:2.1 | 1:3.0
Expected Profit= +49.2% | +86.2% | +123.3%
Possible Loss= -41.2%
Estimated Gaintime= 1-2 months

Trade active:

Entered entry zone

Trade closed: stop reached:

SL hit with -41.2% (2.2x) and -1.0R

INJ broke-out bullish instead, stop hunting us on that wick up, bad timing it was.