INJ Price breaks above $30, eyeing a potential 36% rally before the end of 2024. Discover why Injective’s bullish momentum is strong.
INJ has surpassed the $30 resistance mark, and a weekly close above a certain level will confirm a bullish outlook.has surged over 82% year-to-date, hitting a new all-time high of $52.72. A recent breakout above $30 shows potential for a further 36% rally.
The $28.00–$30.00 zone has proven to be a critical support area, successfully reclaimed after earlier consolidation in 2024.The strong demand zone has fueled the recent rally, indicating a bullish phase with higher highs and higher lows since mid-2024.The 4-hour chart showed that Injective was maintaining a steady upward trend within a rising channel.After breaking above the $22.96 support level, INJ has surged by 41.72% in recent sessions.
As long as the channel’s lower boundary continues to support the price, the bullish trend is likely to persist.The number of large transactions began at around ten per day in early September. On the 21st of September, large transactions surged to approximately sixty per day, coinciding with an increase in INJ’s price from $22.96 to $32.00.
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