Journalist
Posted:
- Inj has fallen 73% since the ATH and formed a falling wig pattern that hinted on a potential bullish breakout.
- The Inj 3.0 -upgrade is intended to reduce the offer up to 2026, which inflamed the hope for a price repair.
Injective [INJ] The prices have fallen steadily since reaching a record-high (ATH) of $ 53 in March 2024. Since then, the Altcoin has fallen nearly 73% and he has fallen to his 15-months low after witnessing an extensive downward trend.
However, recent price trends show how buyers can benefit from the short -term volatility of Inj during this decline.
Can Inj Bulls cause an outbreak with a pattern?
Source: TradingView, Inj/USDT
Inj has been in a rather sharp downrend since its ATH and follows the movement of the wider crypto market.
The reversal of the altcoin of the $ 34 resistance set the stage for the bears. Inj also formed a falling wig pattern on his daily graph, an arrangement that usually refers to a potential bullish breakout.
But this pattern dragged the price among the EMAs of 20, 50 and 200 days, which confirmed a strong bearish edge.
In addition, the recent Death Cross (20/50-day EMA intersection under 200 days EMA) strengthened this downward trend.
It is worth noting that inj will hit a low point of 15 months on 3 February. It saw a series of green candles from this low, but struggled to cross his 20-day EMA over the resistance of $ 15.6.
A convincing close above this level could cause a stronger recovery for the next ceiling on the range of $ 18- $ 20. If a wider market sentiment deteriorates, a decrease in the short term will probably reach $ 9.6- $ 10 Test.
The relative strength index (RSI) is still below 50, which indicates insufficient purchasing pressure. A decisive break above 50 would signal buyers to go for a long time.
Inj 3.0 -upgrade could ignite bullish hope
Injectief recently approved his Inj 3.0 -upgrade, with the aim of drastically reducing the circulating delivery of the token to Q1, 2026.
This deflotional push can sharpen the supply over time, which may increase the value of INJ if the demand picks up – especially important if the wider market sentiment bullish shifts.
Determined data indicate optimism
Source: Coinglass
The derivative volume of Inj rose by 18.63% to almost $ 199 million, while the open interest rate fell by 7.5% to around $ 105 million.
Rising volume with decreasing open interest often signals position closures that can be the scene for new lungs such as Bullish sentiment.
The total long/short ratio on Binance was 2.11, which reconfirmed the short -term optimism of traders.
The price behavior around its falling wiggrens and the 20-day EMA should now help buyers to determine the immediate upward trend of the Altcoin.
The opportunities for a further disadvantage can increase if a wider market sentiment remains shaky, especially around Bitcoin.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
