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Injective (INJ) announced that its largest mainnet upgrade will be released within a few weeks. The Injective team, who used the phrase “The World is not ready for this,” in its shared post, attracted attention. Here is the INJ technical analysis and important levels we have prepared for you!
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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