Injectable (INJ) prices have gone up by more than 25% in the last week, going from a low of $17 to $23.27 this morning. This rise is in line with the overall good trend in the cryptocurrency market, which is mostly due to Bitcoin’s significant price gain.
Bitcoin’s upward trend has helped altcoins, with Injective being one of the most significant winners. Along with INJ’s price rise, there has been a rise in trade volume, which shows that investors are becoming more interested. INJ has a market capitalization of $2.17 billion and a 24-hour trade volume of $512 million, which shows that it is becoming more popular.
Injective Bullish Pattern Emerging
The well-known cryptocurrency analyst World of Charts is positive about the future of Injective. He points out that INJ is making a falling wedge pattern, which is a bullish continuation pattern with lower highs and lower lows. This pattern points to a possible rise.
From World of Charts, it’s clear that Injective needs to break out of the wedge pattern in order to keep going up. He thinks that INJ could hit $50 in the next few weeks if his plan works.
The upcoming start of Ethereum ETFs on July 23 is expected to bring in new investors and increase demand for cryptocurrencies, which is making the market even more excited. Analysts think this event could make Injective’s price go up a lot.
Expect Injective to go up by 220% to $83.77 by August 16, 2024. The Fear & Greed Index gives INJ a score of 69 right now. Its price range is 6.60%, and it has had 15 out of 30 “green days” in the last month, which means it has room to grow even more.
As the cryptocurrency market grows, Injective is in a great situation to benefit from the current upward trend and upcoming market-moving events, such as the launch of Ethereum ETFs. A good environment for Injective’s continued price success is being created by strong fundamentals, positive market sentiment, and important events.
