The news is about the project Injective (INJ), which is known for its cross-chain derivatives protocol. This is because crypto expert Javon Marks said the project would go up in value. Marks, a famous crypto expert, believes that INJ is about to have a “monstrous rally” to an insane $380 target.
The cryptocurrency market is generally uncertain right now, but this optimistic view comes at a good time. This makes people wonder if Injective is really racing toward the moon or if the company is just being too optimistic.
Injective’s Hidden Bullish Divergence
A technical sign called “hidden bullish divergence” is what makes Marks’ forecast possible. This means that there might be a difference between the price of the asset and a technical measure of its progress. Even though the price may be going down, the momentum sign may be pointing to a bullish trend that is just waiting to break out.
Like a coiled spring, the price may be compressing (going down slightly), but the sign shows that the spring is getting tighter, which could mean that a surge up is about to happen. It’s called “hidden” because price and momentum aren’t moving in the same direction. The bullishness is there, but it’s not as clear-cut as a straight price increase.
Marks thinks that INJ could change direction, and he sees a repeat of the $21.65 price level as a key sign. In the past, this level has been a support, and a good retest could be the start of a major rise.
There are more than just technical signs that show that injective could go up. With its new cross-chain derivatives algorithm, the project has made a name for itself in the world of Decentralized Finance (DeFi).
In this case, people can swap derivatives between blockchains. Derivatives are financial contracts whose values are based on the values of real assets. More and more people want powerful DeFi tools, and this feature will help INJ meet that need. This could bring in more users and raise its value.
Marks’ study makes INJ look good, but remember that the cryptocurrency market changes a lot. It needs to cost a lot more than it does now before it can hit $380.
Based on past patterns, price changes for cryptocurrencies can be very major, but they can also drop very quickly afterward.
