The post INJ surges by 18% After a breakout from falling wedge.. appeared on BitcoinEthereumNews.com.

INJ surges by 18% on weekly charts. Recent gains leaves an analyst predicting a new ATH of $100. Over the past month, crypto markets have experienced extreme volatility. While most altcoins have made moderate gains as Bitcoin [BTC] hits past $64k, others lag. Amidst this volatility, Injective [INJ] was not exceptional. However, over the past seven days, INJ has made significant gains to trade at $21.77. This makes an 18% increase on weekly charts. Prior to these gains, INJ was on a downward movement from July 24 that finally came crashing with the October 5 market crash hitting a low of $13.5. Despite the recent gains, the altcoins remain significantly low from the yearly high of $52.6. Thus, these recent gains, have left analysts and traders aiming for a sustained rally to a new all-time high. Inasmuch, Crypto Faibik, a popular crypto analyst posits that INJ is currently positioned to make a new ATH. Prevailing market sentiment In his analysis, CryptoFaibik sees that INJ is set to break from the falling wedge. According to the analysts, a breakout from this pattern which strengthen the altcoin to make a new record price. Source: X Through the X page, the analyst shared his analysis stating that, “INJ is finally on the verge of a Falling Wedge Breakout. Once the Falling Wedge successfully breaks out, it could hit the $100 mark in Q4.” This means that while Injective has been declining in the recent past, the current conditions and price movements prepare the altcoins for historical gains. What INJ price charts indicate CryptoFaibiki price analysis predicts the altcoin will reach a new all-time high after recent movements. The question is do other metrics support this analogy? Source: Tradingview For starters, the Relative Vigor Index (RVGI) is positive at 0.219 above the signal line.…

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Filed under: News - @ August 25, 2024 4:05 pm