The post INJ Price Soars 30% in a Week, Golden Cross Sparks Optimism appeared on BitcoinEthereumNews.com.

Injective (INJ) price has been on a tear, up 30% over the past seven days and surging 14% in the last 24 hours. Its trading volume has skyrocketed by over 250% in the same period, reaching $274 million. This strong price performance is supported by bullish technical indicators, including an overbought RSI at 80.6 and a BBTrend at its highest levels since November 2024. If the golden cross materializes, INJ could see further gains, targeting $26.5, $29.4, and potentially $35.2, but downside risks remain if support levels fail to hold. INJ RSI Is Currently In The Overbought Zone Injective Relative Strength Index (RSI) has seen a sharp increase, now sitting at 80.6, up from 61 just one day ago and 36 a week ago when its price began its recent surge. The RSI is a momentum indicator that measures the speed and magnitude of price movements on a scale from 0 to 100, providing insight into whether an asset is overbought or oversold. Readings above 70 typically signal overbought conditions, suggesting that a pullback or consolidation might be imminent, while readings below 30 indicate oversold conditions, often hinting at a potential price rebound. INJ RSI. Source: TradingView At its current level of 80.6, INJ RSI suggests that the asset is deep in overbought territory, reflecting strong bullish momentum driven by aggressive buying. While this indicates high market enthusiasm and potential for short-term gains, it also raises caution for a possible cooldown. Injective BBTrend Reached Highest Levels Since November 2024 Injective was launched with the promise of being a layer-1 blockchain to revolutionize finance. Its BBTrend currently stands at 11.05, just shy of its recent peak of 11.36, reached a few hours ago. This marks its highest level since late November 2024, reflecting a significant recovery from -4.58 just two days…

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Filed under: News - @ January 6, 2025 3:23 pm