With the rising volatility in the cryptocurrency market, top tokens have continued recording hovering close to their important support levels. Moreover, the market leader, Bitcoin price has successfully held its price at the $60K mark, indicating a high possibility of a bullish reversal.
On the other hand, the Injective price has successfully regained momentum and has added significant value to its respective portfolio during this week. With the increasingly bullish sentiment for the altcoin, will INJ price record a bullish surge toward the $50 mark during the upcoming months?
Injective Price Successfully Retests Its Crucial Support Level:
With a jump of over 10% within the past day and a trading volume of $96.060 Million, the INJ price has successfully retested its crucial support level of $15. Further, it has surged approximately 28% this week alone, suggesting a positive outlook during the upcoming week.
With a trading price of $19.18 and a circulating supply of 97,622,752 INJ tokens, the Injective crypto has secured the 45th position with a market capitalization of $1.870 Billion.
The Relative Strength Index (RSI) has recorded a sharp uptrend from its oversold range, indicating an increase in the buying sentiment within the crypto space. Moreover, the average shows a bullish convergence in the 1D time frame.
Further, the MACD indicator has recorded a constant decline in the red histogram with its averages displaying a potential positive crossover. This highlights that the Injective price will continue gaining value in the coming time.
Will INJ Price Rise Back Up?
Suppose the crypto market continues trading under a bullish influence, in such case, the Injective price will test its resistance level of $21.35. Maintaining the price at that level will set the stage for INJ crypto to test its upper resistance level of $28.25 this month.
Conversely, if the bears overpowered the bulls, the Injective will plunge toward its crucial support level of $15 this month.
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