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Altcoins continue to rise, we will analyze past price movements through charts and technical indicators. We will determine support and resistance levels and provide guidance to investors about buying and selling decisions.
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Injective (INJ)
Recently climbing Injective continued its trend after breaking upwards the horizontal channel formation it created above the 27 dollar support level and advanced to 40 dollar levels. It rebounded from this level and started to recover from 36 dollar levels. Whilst Bitcoin continues its sideways movement, we are seeing serious increases in altcoins nowadays, and Injective also continues its rise.
Currently priced at 42 dollar, there is no resistance in Injective up to 55 dollar levels. If Bitcoin continues its lateral movement, reaching these levels is not hard at all.
MINA Protocol
After the UpBit news, the pullback in Mina altcoin brought the prices down to 0.56 dollar levels. Then, receiving support from the general uptrend in the crypto market, Mina managed to hold itself around 0.72 dollar. But, along with the general market rally, it reached 0.90 dollar levels, then pulled back to the support level and moved sideways.
With the new rise yesterday, Mina is again moving towards 0.90 levels. If it manages to exceed this zone, it can initiate an uptrend towards the 1 dollar levels. However, if it can not break this resistance, a pullback can be experienced towards the 0.72 dollar level.
Near Protocol
When we examine the NEAR altcoin, it appears that two formations, short-term and long-term, are being observed. The short-term formation seems to have worked successfully and climbed to a certain level. If support can be provided above the 2.89 dollar level, an ascent towards the target is then expected. However, it needs to break the 3.443 dollar level upwards to reach this target.
Considering a different scenario, if Bitcoin starts to correct, a downward trend can be seen in altcoins. In this case, the NEAR protocol may exhibit downward trends before reaching the target. This fall can start from the 2.89 dollar level or the 3.44 dollar level. Therefore, it’s important to assess whether Bitcoin will continue its upward trend or not. If Bitcoin manages to close above 44,000 dollars, targets can be seen in most altcoins.
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