📈 Technical Analysis - INJ/USDT (Injective Protocol)
The chart (4-hour) shows that INJ has come from a strong recovery movement after touching support in the region of 10.50, and is now trading at 14.16, close to resistance at 15.48 (previous high).
🔎 Chart pattern: We can observe the formation of a double bottom (W) in the region of 10.50, indicating a possible trend reversal. The breakout of the neckline (around 12.80) confirms the pattern and projects higher targets, provided the movement sustains.
📌 Entry points:
A safe entry can occur on a pullback in the region of 12.80 – 13.00, which now acts as support (former resistance).
Entering near the current resistance (14.00 – 14.20) can pose greater risk, as the price is close to the recent high and may face selling pressure.
📊 Risk vs Return:
The risk vs return ratio is not favorable at the moment for new entries, unless a correction occurs down to the broken support.
Waiting for a pullback may offer better asymmetry for swing trades or a more strategic positioning.
🚨 This is not an investment recommendation. Always do your own analysis.
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