The post Injective (INJ) Bullish Flag Breakout Targets Bold $100 Run appeared on BitcoinEthereumNews.com.

Analysts are highlighting a bullish flag pattern breakout in Injective capturing attention as it suggests further upsides. Now trading at $22.7, the cryptocurrency is poised to break above to more high targets, with a midterm price forecast of $66. Analysts Eyes $100 for Injective as Bullish Flag Pattern Breakout Occurs Crptyo analyst Captain Faibik’s highlights a bullish flag pattern breakout for Injective implying further upside. Injective is currently breaking out of a descending channel, usually a reversal from a downtrend to an uptrend. This is a breakout in momentum, and if this continuation could hold, we could see a very nice rally. He opines that a target price of $66 should be a reasonable midterm price target. When a breakout occurs within a bigger bullish flag pattern, it usually indicates accumulation ahead of a more radical move. As Injective rallies upwards a step beyond the established support, we see an indication that the buyers step in. They tend to push the price higher to get it closer to the $66 target in the near future. Another analyst, Aqua, also highlighted a bullish development for Injective. The crypto broke above the 200-day moving average for the first time since April. An upward move above a major technical level often portends a trend reversal It may signal it’s time to brace for bullish leadership. Analyzing the chart, Aqua found strong potential for Injective. According to them, the chart is one of the best in crypto. Also that the price will surge above $100 in a few months. Technical Levels and Indicators Point to Bullish Momentum On the bullish side, Injective was trading at $22.7, up 6.55% today. The token is heading towards the key resistance at $34.00 now, creating a possibility for a very steep rise. A close above the $22.5 level…

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Filed under: News - @ November 9, 2024 11:47 pm