$INJ
INJ/USDT 15-Min Analysis: Can We Break the Critical $5.51 Resistance?
Attention Traders! The INJ/USDT 15-minute chart is at a critical junction. The price is currently consolidating after a recent drop, showing mixed signals.
📉 Key Chart Observations:
Current Price: The price is holding at $5.45.
Middle Band Resistance: The Bollinger Band Middle Band (MB) is positioned at $5.51, acting as strong short-term resistance.
SAR Signal: The Parabolic SAR dots are below the price ($5.36), indicating a potential short-term bullish momentum on this timeframe.
MACD Signal: MACD shows a weak bearish cross, but the negative momentum is fading near the zero line.
💡 Our Takeaway:
As long as INJ trades below the $5.51 level, selling pressure is likely to persist.
A strong breakout and close above $5.51 could revive the bullish trend, with the next target at the Upper Band ($5.70).
If the price fails to hold the $5.40 support, expect a move towards the Lower Band at $5.31.
What are your thoughts? Will INJ break $5.51 or head back to support? Let me know in the comments!