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The Injective token has shown notable improvement recently. Its price action has been steadily retracing higher levels over the past few sessions. As of the time of writing, the token has registered an additional price increase—albeit a small one, but a gain is still a gain. Let’s take a closer look below.
INJ Statistics
Current Price: $13.44
Market Capitalization: $1.35B
Circulating Supply: 99.97M
Total Supply: 100M
CoinMarketCap Rank: 62
Key Price Levels
Resistance: $15.00, $20.00, $25.00
Support: $12.00, $10.00, $8.00
INJ Holds Above Favorable Baseline
The Injective token has registered a price increase of 1.63% at the time of writing, making it the second most profitable coin on the list of top cryptocurrencies. The latest price candle on the chart is bullish, helping to keep the market afloat.
Furthermore, the token continues to trade above the middle Bollinger Band, with the Bollinger Band indicator projected upward. The Smoothed Rate of Change (SROC) indicator lines remain above the equilibrium level and are forming a smooth upward curve. Technically, this suggests that bullish momentum is still present in the market.
Injective Price Action Continues to Float Above Key Levels
On the 4-hour chart, INJ price action remains above the middle Bollinger Band. The latest price candle is red, indicating a slight downward retracement due to its small body. Still, the Bollinger Band indicator maintains a slight upward projection.
The SROC indicator lines are also above the equilibrium level and appear green, although they are moving slightly sideways. Therefore, traders can maintain a bullish outlook toward the $15.00 price level in this market.
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