INJ Technical Analysis and Important Levels:

$INJ can be seen to have formed a channel structure on the hourly chart. The price tested the upper band of the channel 4 times and the lower band 3 times. After the last reaction from the lower band of the channel, which is $14.21, the price started to make higher peaks and higher dips. On Thursday, November 30, 2023, it broke its downtrend and resistance and showed an increase to $18.376.

With a big network update expected to be released in a few weeks, we could see a nice rise in the INJ price. The first important support level where the price might want to pull back is the $17.24-$17.50 level, which is also the breaking area of the downtrend line. If the price loses this support level, it may want to pull back to the next support zone, which is $16.47-$16.79.

The first important resistance point to be broken for the continuation of the price’s upward momentum is at the $18.70 level. Investors who buy from the lower supports might consider taking profit in this region. The price will then face resistance at the $19.20 level.

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