$INJ
The launch of the INJC fund on Nasdaq on November 5 was a real event, but the market has not priced it in yet. The price is 8.19, and holding above 8.0 is what keeps the short-term structure from breaking down.
Support is at 8.0–8.3, with resistance at 8.7 and then 9.0.
The short-term moving averages still point downward, which conflicts with news as significant as an ETF launch. The most likely explanation is that institutions have not entered yet, and the flow data over the coming weeks will settle the matter.
I expect trading between 8.0 and 8.7 until the flows emerge, because the launch alone is not enough to break through resistance. If the price closes above 8.7 before the data comes out, I’ll consider that the market has moved ahead of the institutions.
This is analysis, not financial advice.
If you found this post useful, we’d appreciate your support with a like 👍
#INJ #Injective #BinanceSquare
The launch of the INJC fund on Nasdaq on November 5 was a real event, but the market has not priced it in yet. The price is 8.19, and holding above 8.0 is what keeps the short-term structure from breaking down.
Support is at 8.0–8.3, with resistance at 8.7 and then 9.0.
The short-term moving averages still point downward, which conflicts with news as significant as an ETF launch. The most likely explanation is that institutions have not entered yet, and the flow data over the coming weeks will settle the matter.
I expect trading between 8.0 and 8.7 until the flows emerge, because the launch alone is not enough to break through resistance. If the price closes above 8.7 before the data comes out, I’ll consider that the market has moved ahead of the institutions.
This is analysis, not financial advice.
If you found this post useful, we’d appreciate your support with a like 👍
#INJ #Injective #BinanceSquare
