$INJ dropped 6.0% in 24h and it's still up 21.72% on 30 days, 17.4 points ahead of BTC. that's a pullback inside an uptrend, not a breakdown.
it slid from an $8.39 high to a $7.53 low, and the 20-day mean at $7.5885 sits right at that low. daily RSI is 54, so nothing's stretched. setup score is 8 out of 14, a decent 8, not a 12.
the soft spot: the MACD histogram is negative and volume is flat at 1.00x against the prior 20 days. so this is a bounce setup, not a charge. a 6% dip that stops at the 20-day mean is a sale, not a signal.
$INJ trades at $7.64 right now. if it holds $7.5885, i think it walks back up toward the 10-day swing high at $8.456, about 10.5% above spot. if it loses $7.5885, i'm wrong on this and there's nothing to defend. that's only 0.8% below price, so anyone already long is then holding a dip with no floor under it.
$7.5885: holding or losing it?
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it slid from an $8.39 high to a $7.53 low, and the 20-day mean at $7.5885 sits right at that low. daily RSI is 54, so nothing's stretched. setup score is 8 out of 14, a decent 8, not a 12.
the soft spot: the MACD histogram is negative and volume is flat at 1.00x against the prior 20 days. so this is a bounce setup, not a charge. a 6% dip that stops at the 20-day mean is a sale, not a signal.
$INJ trades at $7.64 right now. if it holds $7.5885, i think it walks back up toward the 10-day swing high at $8.456, about 10.5% above spot. if it loses $7.5885, i'm wrong on this and there's nothing to defend. that's only 0.8% below price, so anyone already long is then holding a dip with no floor under it.
$7.5885: holding or losing it?
follow me for more calls like this.