Injective (INJ) Faces Continued Bearish Trend, AAVE’s Price Sees Potential Bullish Reversal: Experts’ Analysis
According to analysis shared by crypto analysts Altcoin Sherpa and CryptoBull_360, Injective (INJ) and AAVE are experiencing notable price trends. INJ remains in a bearish phase, while AAVE shows signs of a bullish reversal.
These insights were revealed through their respective tweets, which analyzed the current market conditions for both tokens.
What you'll learn 👉
INJ Struggles with Bearish Momentum
Altcoin Sherpa’s analysis of INJ paints a bleak picture, citing lower highs and the price trading below key Exponential Moving Averages.
The pattern of lower highs suggests continuous selling pressure, making it difficult for INJ to break above past peaks. The price still trades below the 50, 100, and 200 EMAs, which supports the negative trend.
Although a potential support zone has emerged where buyers could enter, Altcoin Sherpa remains uncertain about where the genuine bottom is. He also expresses doubt about INJ reaching its previous ATH in this cycle.
As the token approaches the support level, an increase in volume could suggest a temporary bounce, but the overall market sentiment remains bearish.
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AAVE Shows Bullish Potential After Key Support Bounce
In contrast, CryptoBull_360’s analysis of AAVE suggests a bullish outlook, supported by a harmonic pattern forming on the chart. AAVE has experienced multiple retests of a key support zone around the $115-$120 range.
The analyst anticipates a potential 30%-40% upside from this level, with targets set between $150 and $160. The rising volume at support indicates that buyers are accumulating AAVE, reinforcing the possibility of a bullish breakout.
The harmonic pattern, combined with increasing volume, further strengthens the case for an upward move. However, CryptoBull_360 cautions that the bullish momentum must be sustained for the token to achieve the predicted price rise.
Key Takeaways from Analysts’ Predictions
Both analysts agree that while INJ may see temporary bounces, its overall bearish structure remains intact. On the other hand, AAVE is positioned for a possible bullish reversal, contingent on continued buyer interest and support holding firm.
These contrasting trends highlight the divergent market conditions for the two tokens.
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