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Injective Protocol
Trade setup: Trends are improving, however, we need to see price break above 200-day moving average (~$22) and above $24 resistance to signal bullish trend reversal. It's now trading in a Symmetrical Triangle, which indicates balance between buyers and sellers. We wait for a breakout, which would indicate a shift in that balance one way or the other. (Set a price alert) (Set a price alert).
Pattern: Symmetrical Triangle, which is a neutral pattern, suggesting indecision in the market. Although it could break either up or down, it usually breaks in the direction of the prevailing trend (i.e. continuation not reversal).
Trend: Short-term trend is Strong Up, Medium-term trend is Strong Down, Long-term trend is Down. Momentum: Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70).
Support and Resistance: Nearest Support Zone is $20.00, then $14.00. Nearest Resistance Zone is $24.00, then $30.00.