#INJ

Globally, it is within a descending wedge. At the lower boundary of the wedge, an inverted Head and Shoulders has formed a 'cup' pattern. The price is currently moving in the 'neckline' zone of the cup, where an ascending wedge was broken, which may signal the beginning of the formation of the handle.

A pullback to the OB 5d zone or even lower to the Fibonacci levels is likely to complete the handle. A Bollinger Band has also formed on the daily chart, coinciding with an unclosed imbalance and a resistance level after the Head and Shoulders breakout. A potential local correction may follow, after which an increase is possible with targets above 35$ and further up to 48$ with a successful exit from the global wedge.

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