INJ Explodes to New All-Time High, Is a Correction Imminent? (Injective price analysis)

INJ surprised the market with a new all-time high of $27.6. At this rate, it is interesting to explore the possibility of a correction and, alternatively, check what the cryptocurrency’s next targets are.

Key Support Levels: $23

Key resistance levels: $28, $32, $40

1. Big breakup

With a new ATH established, Injective is now in uncharted territory, which could see it rise quickly. Buyers have dominated the chart all year and there is no end in sight.

2. Key objectives to follow

Based on this price action, the most important targets on the chart right now are $28, $32, and $40. There could also be a brief correction before the rally continues to the breakout point around $23, which also acts as support.

3. MACD bullish momentum intensifies

This breakout has turned the weekly MACD extremely bullish, with the histogram and moving averages rising rapidly. Such strong momentum has not been seen since the last bull market.

Inclination

The bias for INJ is bullish.

INJ price short-term prediction

Volatility may increase after this breakout, and INJ could very well continue its rally to target $28 and $32 next.

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