Injective (INJ) Price Stuck in Consolidation – Is a Breakout Imminent?
Injective (INJ) Price Stuck in Consolidation – Is a Breakout Imminent?
Injective price is closing in on an important resistance level, breaching which would push it towards a new all-time high. But will the investors be a roadblock in this?
Injective Investors Are Pushing On
Injective price is currently trading at $40.17, up from $35.02 just 72 hours ago. This has given bullish signs for investors once again, who were reeling from the 32% correction observed since mid-March.
As a result, as Injective price attempts to escape consolidation, investors are contributing to the network as well. The addresses that have been conducting transactions on the network tend to drive the price. In the case of INJ, these are majorly dominated by investors at the money.
Injective Active Addresses by Profitability
These investors are presently breaking even and are waiting for the price to shoot up in order to find profits. Their activeness shows that INJ holders are still optimistic about the Injective price rising further, which will boost the bullish momentum.
Based on the post content, please reach out to us to acquire the full article.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.