Top Analyst Predicts 2x Rally for Injective (INJ) as Price Breaks Through 7-Month Resistance
Injective (NJ) is currently breaking out of a descending channel pattern. This breakout is part of a bullish move that started three days ago when the INJ price began to spike from $16.30.
It is currently around $22.60 at the time of writing, representing a nearly 40% price increase. With many other cryptocurrencies turning bullish, Injective price is also following a similar path.
Now that it is breaking out of a channel that has served as both resistance and support since March, we may be witnessing a major change in trend. This could signal the beginning of another run to the top of the channel.
Read Also: Uniswap (UNI) Price Breaks Out: Analyst Expects Retest Before $10 Target Amid ETH Season
Captain Faibik, a top crypto analyst with over 90,000 subscribers, is also projecting a significant bullish move.
The analyst’s chart suggests that we could see a 200% price increase following this breakout. The key will be a successful breakout and retest of the top of the pattern, which could lead to the start of a major run.
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