Injective Protocol (INJ) – Market Analysis & Trade Setup Current Price: ~$6.00 | Market Cap Rank: #70 Overview: INJ is currently trading at a strong historical support zone around $6, following a significant retracement from its recent highs near $33. The valuation tool indicates that INJ is undervalued, suggesting a high-probability buying opportunity for mid- to long-term traders.
Technical Analysis:
Valuation Tool: INJ is below the 30% valuation level, signaling undervaluation. Historically, such levels led to +150% gains. Chart Pattern: Price has pulled back to major daily support, setting up for a bounce. We expect a move toward previous resistance zones.
Market Sentiment: Broader crypto market and altcoin indices remain bullish. USDT dominance is falling, indicating capital rotation back into altcoins.
Trade Setup: Entry Zone: Primary Entry: $5.80 – $6.20 (current support) Secondary Entry (on dip): $5.40 (next local support) Targets:
TP1: $9.20 (minor resistance)
TP2: $12.00 (strong resistance)
TP3: $15.50 – $16.00 (key take-profit zone) Stop-Loss: Below $5.20 (invalidates bullish structure)
Risk Management: Use 2-3% of capital per trade. For spot positions, consider laddering entries and targets. For futures, use isolated margin with 3x leverage max. Conclusion: Injective Protocol (INJ) is showing signs of bottom formation with strong technical and sentiment support. As long as the $5.20 level holds, we maintain a bullish outlook with upside potential toward $12 and beyond in the coming weeks.
#INJ #Injective #MarketAnalysis #CryptoNews #MarketUpdate #trading