📉 INJ/USDT Technical Analysis: Seeking Bottom Confirmation
INJ/USDT is currently trading at $5.45, showing minimal movement today. The chart indicates a sharp decline of over 62% in the last 90 days, confirming a long-term bearish trend. The RSI is low (40.04), suggesting it is oversold, but a lack of strong buying volume is apparent.
The key support is critical and lies at $5.26 (the 24H low). The immediate resistance is the recent price ceiling around $6.00.
Action Plan (Patience Required):
Entry: Wait for a clear reversal signal. A safer entry is a breakout and sustained close above $6.50 (to confirm a trend change).
Stop-Loss: A decisive drop below $5.00 invalidates the current holding area and opens the door for significant further decline.
Take Profit (TP) Levels: Scale out profits using previous support levels as new resistance targets:
TP 1: $7.50 (Targeting the recent consolidation breakdown).
TP 2: $8.50 (If initial momentum is strong).
TP 3: $10.00 (The major psychological recovery target).
Disclaimer: The current trend is bearish. Confirmation of a bottom is essential before aggressive entry. Not financial advice.@Injective #injective $INJ
