{"id":111437,"date":"2024-10-07T14:05:47","date_gmt":"2024-10-07T07:05:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=111437"},"modified":"2024-10-07T14:05:47","modified_gmt":"2024-10-07T07:05:47","slug":"inj-looks-set-for-a-rally-to-23-but-watch-out-for-this-risk","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=111437","title":{"rendered":"INJ looks set for a rally to $23 &#8211; But watch out for THIS risk!"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">INJ stakeholders lost significant gains made during the September rally.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Now, the hope for a breakout hinges on a key factor.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/predictions\/injective-protocol-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Injective [INJ]<\/a>\u00a0defied September\u2019s bearish trend, surging over 40% to hit $23 last week. However, a price correction in October erased much of those gains, pulling INJ back to earlier levels.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Recently, the Injective network <a href=\"https:\/\/x.com\/Injective_Hub\/status\/1842115246384939323?t=kY0HlTTdX-TwU_8z4rXI7Q&amp;s=19\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">announced<\/a> key milestones, sparking a notable increase in its userbase and a 6% rise in INJ\u2019s value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite this brief uptick, the rally was cut short by a bearish MACD crossover on the daily chart. Following this, AMBCrypto investigated if this retracement could catalyze a breakout, as many <a href=\"https:\/\/x.com\/KemkemCrypt\/status\/1842615579150090582?t=k1BmQ5KryTysQJ1Da1lEWw&amp;s=19\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">analysts<\/a> anticipate.<\/span><\/p>\n<h2><b>INJ in short supply<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Injective\u2019s innovative burn auction, introduced with INJ 2.0 in 2023, has simplified the token burning process.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For context, it enables individual users to contribute directly to the Auction Fund; the INJ network has made token burning more accessible.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Recently, the network <a href=\"https:\/\/x.com\/injective\/status\/1842404456996163914?t=7aXvp5Q1e6N3NarNDt42Mg&amp;s=19\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">announced<\/a> the burning of an additional 200K INJ tokens, a move expected to positively impact INJ\u2019s price action over the long term.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, as AMBCrypto pointed out, the recent price retracement has pushed many INJ holders into a loss position. A significant portion of these investors accounts for 1.66 million INJs, acquired at an average price of $22, which is lower than the current trading price.<\/span><\/p>\n<div id=\"attachment_430600\" style=\"width: 1734px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" aria-describedby=\"caption-attachment-430600\" decoding=\"async\" class=\"wp-image-430600 size-full\" alt=\"p\/l of INJ\" width=\"1724\" height=\"368\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640.png 1724w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640-300x64.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640-1024x219.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640-768x164.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640-1536x328.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640-1200x256.png 1200w\" data-lazy-sizes=\"(max-width: 1724px) 100vw, 1724px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640.png\"\/><img loading=\"lazy\" aria-describedby=\"caption-attachment-430600\" decoding=\"async\" class=\"wp-image-430600 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640.png\" alt=\"p\/l of INJ\" width=\"1724\" height=\"368\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640.png 1724w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640-300x64.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640-1024x219.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640-768x164.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640-1536x328.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-172640-1200x256.png 1200w\" sizes=\"auto, (max-width: 1724px) 100vw, 1724px\"\/><\/a><\/p>\n<p id=\"caption-attachment-430600\" class=\"wp-caption-text\">Source : IntoTheBlock<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">If other holders see the current price as a market bottom and decide to buy the dip, these investors may have an incentive to hold off on breaking even, in addition to the network achievements previously mentioned.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If this trend holds, the next big test for Injective will be turning the previous $23 resistance into support, if they succeed, then the next resistance might hit around $30.<\/span><\/p>\n<h2><b>Whales are supporting this idea<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">This week, large whale cohorts intervened to prevent INJ from a deeper pullback that could have dropped the price to $18. Their efforts led to a notable 7% gain, pushing INJ back up to $20.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The chart below shows that approximately 45K INJ tokens flowed from exchanges into whale wallets, accumulating during the dip and successfully flipping the $18 level into support.<\/span><\/p>\n<div id=\"attachment_430601\" style=\"width: 1734px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" aria-describedby=\"caption-attachment-430601\" decoding=\"async\" class=\"wp-image-430601 size-full\" alt=\"net flow\" width=\"1724\" height=\"300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227.png 1724w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227-300x52.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227-1024x178.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227-768x134.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227-1536x267.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227-1200x209.png 1200w\" data-lazy-sizes=\"(max-width: 1724px) 100vw, 1724px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227.png\"\/><img loading=\"lazy\" aria-describedby=\"caption-attachment-430601\" decoding=\"async\" class=\"wp-image-430601 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227.png\" alt=\"net flow\" width=\"1724\" height=\"300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227.png 1724w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227-300x52.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227-1024x178.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227-768x134.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227-1536x267.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-06-174227-1200x209.png 1200w\" sizes=\"auto, (max-width: 1724px) 100vw, 1724px\"\/><\/a><\/p>\n<p id=\"caption-attachment-430601\" class=\"wp-caption-text\">Source : IntoTheBlock<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">While this is a bullish sign, a decline in whale holdings could pose a challenge for bulls trying to maintain the $23 level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In summary, this accumulation suggests a potential market bottom, encouraging loss-position holders to maintain their holdings while drawing in profit holders through FOMO, which is crucial for establishing the $23 support.<\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"https:\/\/ambcrypto.com\/predictions\/injective-protocol-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Injective\u2019s [INJ] Price Prediction<\/a>\u00a02024\u20132025<\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">However, if whales retreat, major players may lose confidence in a recovery, possibly driving INJ back to $18.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, tracking whale activity is essential for a breakout. If whales remain committed long-term, their confidence could help bulls hold onto the $23 support, setting the stage for the next resistance at $30.<\/span><\/p>\n<div class=\"post-nav\">\n<div class=\"previous-blog\">\nPrevious: <a href=\"https:\/\/ambcrypto.com\/shiba-inu-market-trends-suggest-tough-road-ahead-for-shib-traders\/\" rel=\"next\" data-wpel-link=\"internal\">Shiba Inu: Market trends suggest tough road ahead for SHIB traders<\/a> <\/div>\n<div class=\"next-blog\">\nNext: <a href=\"https:\/\/ambcrypto.com\/usdt-borrowing-rises-eyeing-bitcoin-will-btc-reclaim-70k\/\" rel=\"prev\" data-wpel-link=\"internal\">USDT borrowing rises, eyeing Bitcoin: Will BTC reclaim $70K?<\/a> <\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/inj-looks-set-for-a-rally-to-23-but-watch-out-for-this-risk\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>INJ stakeholders lost significant gains made during the September rally.\u00a0 Now, the hope for a breakout hinges on a key factor. Injective [INJ]\u00a0defied September\u2019s bearish trend, surging over 40% to &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=111437\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-111437","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/111437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=111437"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/111437\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=111437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=111437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=111437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}