Injective is currently working through a Wyckoff accumulation base. Essentially a triple bottom with each low undercutting the previous low. Volume has been declining throughout this base and clearly falling off in this final bottom phase as the market "tests" for more supply. Expecting a big move to the upside over the coming weeks.
INJ has been the market leader YTD, outperforming the rest with clear bullish chart structure. The team teased an imminent launch of "Project X", their core DeFi platform (DEX + Incubator).
If BTC can breakout to the upside (chart looks great), I think INJ has the best chance of making it to a new ATH by August.
INJ has been the market leader YTD, outperforming the rest with clear bullish chart structure. The team teased an imminent launch of "Project X", their core DeFi platform (DEX + Incubator).
If BTC can breakout to the upside (chart looks great), I think INJ has the best chance of making it to a new ATH by August.
Comment:
So far so good. Bitcoin broke out bigly and INJ is bumping up against downtrend resistance atm. Expecting a breakout in the coming days. If you didn't see via Twitter yesterday, the Injective team launched Project X, n.k.a Mito
Comment:
Breaking out on big volume. Would be more confident with a close over $7.50. Over $8 would confirm the breakout, posting a higher high. If so, this could run towards $15 before any meaningful pullback
Comment:
Shallow pullback on low volume is a good sign, getting 20 EMA support. Essentially a retest. Would like to see big volume on any breakout over $10