Attention, traders! 👀🔥
The chart of #INJ/USDT on a 12-hour timeframe is showing a move that deserves monitoring.
After several weeks within an ascending channel, the price has suffered a sharp drop and is now testing its lower limit.
📉 What’s happening?
The price is around 6,595 USDT, after recording a 10.33% drop in the candle shown.
But here’s the key point: the price is reaching a zone where buyers could try to defend the structure.
🟢 BULLISH SCENARIO
If support holds and a buying reaction appears:
🎯 7.20–7.50 USDT
🎯 7.80–8.00 USDT
🎯 8.30–8.50 USDT
A sustained recovery could lead the market to test the previous highs again.
🔴 BEARISH SCENARIO
If the price breaks the lower part of the channel and confirms the breakout on a 12H close, be careful: we could be looking at a change in market structure.
🧠 My strategy: don’t chase the drop or buy blindly. I’d wait for a clear reaction at support, price confirmation, and buying volume before considering a bullish move.
⚠️ These levels are approximate technical references based on the chart, not guarantees of movement.
🔥 QUESTION FOR THE COMMUNITY:
Do you think $INJ will respect the ascending channel and bounce back toward 8 USDT, or lose support and deepen the drop?
👇 I’m reading your comments!
#INJ #Injective #Trading #BinanceSquare
The chart of #INJ/USDT on a 12-hour timeframe is showing a move that deserves monitoring.
After several weeks within an ascending channel, the price has suffered a sharp drop and is now testing its lower limit.
📉 What’s happening?
The price is around 6,595 USDT, after recording a 10.33% drop in the candle shown.
But here’s the key point: the price is reaching a zone where buyers could try to defend the structure.
🟢 BULLISH SCENARIO
If support holds and a buying reaction appears:
🎯 7.20–7.50 USDT
🎯 7.80–8.00 USDT
🎯 8.30–8.50 USDT
A sustained recovery could lead the market to test the previous highs again.
🔴 BEARISH SCENARIO
If the price breaks the lower part of the channel and confirms the breakout on a 12H close, be careful: we could be looking at a change in market structure.
🧠 My strategy: don’t chase the drop or buy blindly. I’d wait for a clear reaction at support, price confirmation, and buying volume before considering a bullish move.
⚠️ These levels are approximate technical references based on the chart, not guarantees of movement.
🔥 QUESTION FOR THE COMMUNITY:
Do you think $INJ will respect the ascending channel and bounce back toward 8 USDT, or lose support and deepen the drop?
👇 I’m reading your comments!
#INJ #Injective #Trading #BinanceSquare