In this Injective (INJ) price forecast 2024, 2025-2030, we will analyze the price patterns of INJ using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Injectable (INJ) Current Market Status
What is injectable (INJ)
Injective Protocol (INJ) is a decentralized exchange (DEX) that offers cross-chain margin trading, derivatives, and currency futures trading. The Injective Protocol is a Layer 2 application developed on the Cosmos blockchain. The protocol uses cross-chain bridges to allow traders to access cryptocurrencies from platforms such as and.
Injective Protocol, unlike other prominent decentralized exchanges such as or Bancor, does not use an automated market maker (AMM) algorithm to maintain liquidity. Instead, Injective uses the order book concept, which has been adopted by centralized stock and cryptocurrency exchanges for many years. In this way, Injective hopes to combine the efficiency of traditional banking with the transparency of decentralized exchanges.
Injective Exchange traders only pay regular market maker and taker fees using INJ coins, rather than network gas fees for each transaction. INJ coins also serve as the platform’s proof of governance and staking mechanism, enabling Injective’s Proof of Stake-based blockchain to function.
Injective 24H Technical
Injectable (INJ) Price Forecast 2024
Injective (INJ) is ranked 28th on CoinMarketCap in terms of its market capitalization. The overview of the Injectable price forecast for 2024 is explained below with a daily time frame.
In the above chart, Injective (INJ) has laid out a Horizontal Channel, also known as the sideways trend. Generally, the horizontal channel is formed during the price consolidation. In this pattern, the upper trend line, the line connecting the highs, and the lower trend line, line connecting the lows, run horizontally parallel and the price action is contained within them.
A horizontal channel is often considered one of the suitable patterns for timing the market as the buy and sell points are in consolidation.
At the time of analysis, the price of Injective (INJ) was recorded at $33.70. If the pattern trend continues, the price of INJ may reach the resistance levels of $36.38 and $43.94. If the trend reverses, the price of INJ may fall to the support of $30.36 and $20.92.
Injectable (INJ) Resistance and Support Levels
The chart below gives the possible resistance and support levels of Injective (INJ) in 2024.
From the above chart, we can analyze and identify the following as resistance and support levels of Injective (INJ) for 2024.
Injectable (INJ) Price Forecast 2024 – RVOL, MA and RSI
The technical analysis indicators such as relative volume (RVOL), moving average (MA) and relative strength index (RSI) of injection (INJ) are shown in the chart below.
From the readings on the graph above, we can make the following conclusions regarding the current Injective (INJ) market in 2024.
Injectable (INJ) Price Forecast 2024 — ADX, RVI
In the chart below, we analyze the strength and volatility of Injective (INJ) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can draw the following conclusions about the price momentum of Injective (INJ).
Comparison of INJ with BTC, ETH
Now let’s compare the price movements of Injective (INJ) with that of (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of INJ is different from that of BTC and ETH. That is, when the price of BTC and ETH rises, the price of INJ falls, if the price of BTC and ETH falls, the price of INJ rises. .
Injectable (INJ) Price Forecast 2025, 2026 – 2030
Using the aforementioned technical analysis indicators and trend patterns, let’s forecast the price of Injective (INJ) between 2025, 2026, 2027, 2028, 2029 and 2030.
Closure
If Injective (INJ) establishes itself as a good investment in 2024, this year will be favorable for the cryptocurrency. Finally, the bullish Injective (INJ) price forecast for 2024 is $91.14. In comparison, if unfavorable sentiment is triggered, the bearish Injective (INJ) price forecast for 2024 is $9.90.
If the market momentum and investor sentiment rises positively, Injective (INJ) could reach $50. Furthermore, with future upgrades and advancements in the Injective ecosystem, INJ could surpass its current high (ATH) of $45.19 and mark its new ATH.
This content was originally published by our partners at The News Crypto.
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