Expert Analysis: Injective (INJ) Price in for Recovery Despite Hitting 2024 Lows
Thursday, 16 May 2024, 13:30
Injective (INJ) Price Recovery Analysis
Injective's price hit a new year-to-date low, declining to $21.3, but investor sentiment points towards a potential rebound.
Investor Optimism
- Active deposits decrease, suggesting investors are holding their assets, aiding price recovery.
- Mean Coin Age rises, indicating HODL sentiment among holders, boosting recovery chances.
Price Prediction
The target price of $28.0, aligned with the 200-day EMA, signifies a 20% potential rise if key support levels are maintained.
If bearish trends persist, a breach below $21.3 could reverse the recovery scenario.
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.