Polkadot (DOT) Eyes RWA Supremacy, Injective (INJ) Reclaims Key Support – Critical Price Levels to Watch
Polkadot ($DOT) and Injective ($INJ) have exhibited notable price movements amid market fluctuations. Leading analysts have highlighted critical support and resistance levels for these tokens, suggesting potential opportunities for investors. Polkadot aims to solidify its position in the Real-World Asset (RWA) adoption, while Injective is showing signs of strength by reclaiming important moving averages.
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Polkadot (DOT) Price Analysis
Michaël van de Poppe, a crypto analyst, emphasized Polkadot’s ($DOT) strategic focus on becoming a leader in RWA adoption. According to van de Poppe, Polkadot is currently searching for higher timeframe support within the $5.50-6.00 range, presenting an ideal accumulation zone.
He noted, “$DOT aims to be a market leader in RWA adoption through several projects within the ecosystem. The token is still looking for higher timeframe support, which we’re reaching here at $5.50-6.00.”
Yakuza, another figure in the crypto space, discussed the volatility affecting Polkadot. He pointed out that $DOT broke down from its channel due to last week’s market movements. However, he reassured investors by highlighting a critical support level that could prompt a rebound.
“Due to last week’s volatility, $DOT broke down from this channel but the party isn’t over yet. A critical level of support lies right there on the chart, and price will see a rebound from that range in no time,” he stated.
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Injective (INJ) Price Analysis
Turning to Injective ($INJ), CryptoJelleNL noted that the token has reclaimed its 100-day EMA for the first time since April. This development is significant as $INJ broke its downtrend, rallied into key resistance, and faced rejection.
However, if the token holds above the moving average, a reclaim of $30 seems likely. “For the first time since April, $INJ is reclaiming the 100-day EMA. If it can hold above the MA, I’m confident it’ll reclaim $30 soon,” said CryptoJelleNL.
Trader_XO, another respected analyst, shared his insights on $INJ’s resistance levels. He noted that $31-32 remains a significant level of resistance for the token. Despite this, he expressed optimism for altcoins if $INJ can trade above this range.
“For now, 31-32 continues to be a significant level of resistance. I was long from 22s – TP’d at 29s. Resistance until proven otherwise,” he mentioned.
Polkadot and Injective are navigating through critical junctures in their respective journeys. While Polkadot focuses on solidifying its market position within the RWA space, Injective is working towards overcoming resistance levels.
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