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11 months ago
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ARTICLE AD BOX
- Bullish INJ price prediction for 2023 is $38.996 to $91.140.
- Injective (INJ) price might reach $100 soon.
- Bearish (INJ) price prediction for 2023 is $5.624.
In this Injective (INJ) price prediction 2023, 2024-2030, we will analyze the price patterns of INJ by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS |
INTRODUCTION |
|
INJECTIVE (INJ) PRICE PREDICTION 2023 |
|
| INJECTIVE (INJ) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
Injective (INJ) Current Market Status
| Current Price | $35.76 | 24 – Hour Price Change | 0.66% Up |
| 24 – Hour Trading Volume | $185,706,024 |
| Market Cap | />$2,995,257,137 |
| Circulating Supply | 83,755,556 INJ | All – Time High | $44.61 (On Dec 24, 2023) |
| All – Time Low | $0.6557 (On Nov 03, 2020) |
What is Injective (INJ)
| TICKER | INJ |
| BLOCKCHAIN | Injective |
| CATEGORY | PoW layer 1 blockchain |
| LAUNCHED ON | November 2021 |
| UTILITIES | Governance, security, gas fees & rewards |
Injective Protocol (INJ) is a decentralized exchange (DEX) that provides cross-chain margin trading, derivatives, and currency futures trading. The Injective Protocol is a Layer 2 application developed on the Cosmos blockchain. The protocol uses cross-chain bridges to allow traders to access cryptocurrencies from platforms such as Ethereum and Polkadot.
Injective Protocol, unlike other prominent decentralized exchanges like Uniswap or Bancor, does not use an automated market maker (AMM) algorithm to maintain liquidity. Instead, Injective utilizes the order book concept, which has been extensively adopted by centralized stock and cryptocurrency exchanges for many years. In this way, Injective hopes to combine the efficiency of traditional banking with the transparency of decentralized exchanges.
Injective Exchange traders only pay regular market maker and taker fees using INJ coins, rather than network gas fees for each transaction. INJ coins also act as the platform’s governance token and staking mechanism, enabling Injective’s Proof of Stake-based blockchain to function.
Injective 24H Technicals
(Source: TradingView)
Injective (INJ) Price Prediction 2023
Injective (INJ) ranks 33rd on CoinMarketCap in terms of its market capitalization. The overview of the Injective price prediction for 2023 is explained below with a daily time frame.
INJ/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, Injective (INJ) laid out a descending channel. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Injective (INJ) was recorded at $35.76. If the pattern trend continues, then the price of INJ might reach the resistance levels of $38.119 and $43.579. If the trend reverses, then the price of INJ may fall to the support of $34.154.
Injective (INJ) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Injective (INJ) in 2023.
INJ/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Injective (INJ) for 2023.
| Resistance Level 1 | $38.996 |
| Resistance Level 2 | $91.140 |
| Support Level 1 | $13.919 |
| Support Level 2 | $5.624 |
INJ Resistance & Support Levels
Injective (INJ) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Injective (INJ) are shown in the chart below.
INJ/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Injective (INJ) market in 2023.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $23.939Price = $36.944 (50MA < Price) | Bullish(Uptrend) |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 59.170 <30 = Oversold 50-70 = Neutral>70 = Overbought | Neutral |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak Volume |
Injective (INJ) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Injective (INJ) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
INJ/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Injective (INJ).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 63.912 | Strong Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 51.45 <50 = Low >50 = High | High Volatility |
Comparison of INJ with BTC, ETH
Let us now compare the price movements of Injective (INJ) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs INJ Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of INJ is dissimilar to that of BTC and ETH. That is, when the price of BTC and ETH increases, the price of INJ decreases, if the price of BTC and ETH decreases, the price of INJ increases. .
Injective (INJ) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Injective (INJ) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
| Year | Bullish Price | Bearish Price |
| Injective (INJ) Price Prediction 2024 | $107 | $4.5 |
| Injective (INJ) Price Prediction 2025 | $119 | $4.2 |
| Injective (INJ) Price Prediction 2026 | $130 | $4 |
| Injective (INJ) Price Prediction 2027 | $142 | $3.8 |
| Injective (INJ) Price Prediction 2028 | $154 | $3.6 |
| Injective (INJ) Price Prediction 2029 | $166 | $3.4 |
| Injective (INJ) Price Prediction 2030 | $178 | $3 |
Conclusion
If Injective (INJ) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Injective (INJ) price prediction for 2023 is $91.140. Comparatively, if unfavorable sentiment is triggered, the bearish Injective (INJ) price prediction for 2023 is $5.624.
If the market momentum and investors’ sentiment positively elevates, then Injective (INJ) might hit $100. Furthermore, with future upgrades and advancements in the Injective ecosystem, INJ might surpass its current all-time high (ATH) of $44.61 and mark its new ATH.
FAQ
1. What is Injective (INJ)?
Injective Protocol (INJ) is a decentralized exchange (DEX) that provides cross-chain margin trading, derivatives, and currency futures trading.
2. Where can you buy Injective (INJ)?
Traders can trade Injective (INJ) on the following cryptocurrency exchanges such as Binance, Cointr Pro, Bybit, Bitunix, and DigiFinex.
3. Will Injective (INJ) record a new ATH soon?
With the ongoing developments and upgrades within the Injective Platform, Injective (INJ) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Injective (INJ)?
Injective (INJ) hit its current all-time high (ATH) of $44.61 on December 24, 2023.
5. What is the lowest price of Injective (INJ)?
According to CoinMarketCap, INJ hit its all-time low (ATL) of $0.6557 on November 04, 2020.
6. Will Injective (INJ) hit $100?
If Injective (INJ) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $100 soon.
7. What will be the Injective (INJ) price by 2024?
Injective (INJ) price might reach $107 by 2024.
8. What will be the Injective (INJ) price by 2025?
Injective (INJ) price might reach $119 by 2025.
9. What will be the Injective (INJ) price by 2026?
Injective (INJ) price might reach $130 by 2026.
10. What will be the Injective (INJ) price by 2027?
Injective (INJ) price might reach $142 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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