Injective Protocol (INJUSDT) Analysis
Injective Protocol (INJUSDT): A Technical Breakdown and Price Forecast | January 28, 2025
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This information is for educational purposes only. Nothing written, expressed, or implied here should be looked at as investment advice or an admonition to buy, sell, or trade any security or financial instrument. As always, do your own diligence.
Injective Protocol (INJUSDT) Analysis
Weekly Chart
Price is near a high confluence zone aligning with long-term trend line support spanning from 2023 to 2024 as well as horizontal resistance turned support sitting at $17.32.
Daily Chart
Zooming into the daily chart and we can see that we’re hovering just above the 78.6% Fibonacci retracement sitting at $16.33 from the 2023 swing low just before price broke out from $8 and rallied all the way up to the All Time High (ATH) at $53 (our Fib swing high).
4-Hour Chart - Trade Idea #1 - LONG
We see a trade opportunity right now with the above confluence levels mentioned. We’re looking to scale in hoping price can get closer to $17 with a stop at $15.97 which is just below the previous higher low from Nov 4, 2024 at $16. This stop would invalidate this trade idea resulting in a potential deeper pullback towards the lower trendline around $13 and the AVWAP since price inception sitting at $10.04. And to be honest, let’s hope it gets there as this would be an incredible bounce trade opportunity.
Sentiment Rating & Signals
LONG Trade Idea #1: Injective Protocol (INJUSDT)
Entry Zone: $18.40–$16.40
Average Entry Price: $17.40 (Midpoint of entry range)
Stop Loss Level:
Full Stop: $15.97
Take-Profit Targets:
Take-Profit Target 1 (TP1): $19.97
Reward: $2.57 (TP1 - Average Entry)
R:R: 1.8
Take-Profit Target 2 (TP2): $23.47
Reward: $6.07 (TP2 - Average Entry)
R:R: 4.2
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This information is for educational purposes only. Nothing written, expressed, or implied here should be looked at as investment advice or an admonition to buy, sell, or trade any security or financial instrument. As always, do your own diligence.