In this Injective technical analysis, we will examine the current price action, trading volume, key levels and indicators for INJ-USDT. Injective (INJ) is a decentralized finance (DeFi) platform that utilizes a novel consensus algorithm called “injective proof of stake” to secure its network. This algorithm allows for faster and more energy-efficient transactions compared to traditional proof of work algorithms, making INJ an attractive option for environmentally conscious investors. Additionally, INJ’s unique governance structure enables holders of the cryptocurrency to have a direct say in the development and decision-making process of the platform, giving them a sense of ownership and control over their investments.
Injective Price Overview:
As of July 06, 2024, Injective is trading at approximately 19.33 USDT. Let’s dive into the detailed price action for INJ-USDT:
| Metric | Value |
|---|---|
| Open (O) | 18.94 |
| High (H) | 19.76 |
| Low (L) | 18.57 |
| Close (C) | 19.33 |
| Volume (C) | 478,933.02 |
- Open (O): The opening price for today’s trading session was approximately 18.94 USDT.
- High (H): Injective reached a daily high of around 19.76 USDT.
- Low (L): The daily low for INJ-USDT was approximately 18.57 USDT.
- Close (C): At the time of analysis, Injective is trading near its daily close of 19.33 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.06% |
| 3D Change (%) | -10.05% |
| 7D Change (%) | -15.33% |
| 30D Change (%) | -31.11% |
| 90D Change (%) | -45.13% |
| YTD Change (%) | -45.94% |
Over the past three days, INJUSDT has declined by approximately -10.05%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -15.33%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with INJUSDT maintaining a downward trend of approximately -31.11%, despite intermittent fluctuations. Examining the last 90 days, INJUSDT has witnessed substantial decline of approximately -45.13%, reflecting strong long-term confidence. Year-to-date, INJUSDT has steadily declined by around -45.94%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Injective Live Chart:
You can access a live price chart for INJ-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.85329.
- Momentum score is -0.23958.
INJ USDT Technical Analysis
Injective Trading Volume:
The trading volume for Injective (INJ) over the past 24 hours has been insignificant, with approximately 478,933.02 USDT traded against INJ. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): INJ is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Injective is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for INJ-USDT is currently in the low zone, around 41.59559. This suggests that Injective is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Injective (INJ-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Assess Injective’s (INJUSDT) risks at 19.33 USDT with bearish technical analysis, highlighting weakened support and cautionary indicators.
For a deeper dive into the subject, don’t miss our comprehensive analysis on INJ BTC Injective Technical Analysis if you found this post intriguing.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.