Injective (INJUSD) Price Forecast: December 15
Following the recent upsurge in the crypto market, the Injective price may likely experience a price breakout and bullish continuation at the current price level of $27.750. Meanwhile, if the buying group can push the coin price above the previous high of $28.500, the potential rally could surge above the $29.000 higher level to reach the $30.000 upper resistance value. As a result, the long-term investors would have a fantastic opportunity and a clear buy signal.
Key Levels:
Resistance Levels: $25.000, $26.000, $27.000
Support Levels: $18.000, $17.000, $16.000
INJ (USD) Long-term Trend: Bullish (Daily Chart)
The long-term market value of Injective is experiencing a price breakout and bullish continuation by moving in a bullish direction. The coin price is trading above the two EMAs approaching the overhead resistance with huge volumes from the bulls. Thus, the recent market structure has favored the bulls.
The strong push by the bulls to the $25.610 supply trend level in the past session has contributed to its strong bullish trend in its recent high.
However, the INJUSD price breakout at the $27.750 resistance value above the EMA-50 as the daily chart opens today indicates the high buying impact from the long traders resulting in intraday gains.
Thus, a possible breakout from the mentioned supply will accelerate the buying momentum and push the prices of Injective higher to hit the previous high at the $28.500 level, bolstering buyers for a sustainable rally.
Notably, the market is pointing up on the daily stochastic; this means that the crypto is open for a price breakout and bullish continuation, in light of this, the price of INJUSD might hit the $30.000 supply trend mark, thus registering a buy signal for coin traders soon in its higher time frame.
INJ (USD) Medium-term Trend: Bullish (4H Chart)
The medium-term market value of Injective is moving in a bullish direction. This is clear as we can see the price breakout and bullish continuation to the upper resistance area of the market indicating a strong uptrend.
During yesterday’s session, the pair reached and held the $26.42 resistance level. This has made it possible for the coin to remain in an uptrend in its recent high.
Today’s 4-hourly bullish candle at the $26.46 supply value above the moving averages confirms the bulls’ dominance in the market. This breakout and bullish continuation may accelerate the bullish momentum and extend the ongoing correction to a higher level.
Notably, the underlying sentiment suggests a bullish continuation in the coming days as indicated by the daily stochastic. It is expected that buyers to push the price of INJUSD further up to a significant level in the upsides and in this case, the target might be the $30.000 supply level in the medium-term forecast.
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