Break-Even Holders are a $44 chapter eye.

Injective (INJ) Holders Stuck at Break-Even: Waiting for Push to $44 Next?


Injectable (INJ) price volatility shows that 83% of active bearers are on the break, suggesting that they are expecting a price reversal. Likewise, INJ's active addresses increased after late March.

Additionally, EMA lines suggest a strong consolidation pattern following last month's 14.62% correction. This combination of factors indicates a potential upside for INJ as the market stabilizes and investors remain optimistic.

These holders can prevent sales pressure.

INJ's price has recently shown signs of recovery, rising 5% over the past seven days. This comes after INJ fell from $51 on March 12 to $35.48 on March 24. This is a significant bullish indicator as the INJ market tries to break out of a previously lackluster consolidation period.

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Injection active addresses profitably. Source: IntoTheBlock

In this context, the role of active addresses becomes increasingly important. Currently 83% of addresses are cracking. These holders are probably waiting for an opportunity for the price to rise, thus opening up potential profits.

Optimism among holders watching the market closely for signs of further gains indicates strong confidence in INJ's value proposition. It is this shared feeling that can lead to further bullying.

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INJ active addresses are increasing again.

INJ recently saw an increase in daily active addresses, rising to 755 on March 24 from 509 on March 28. On March 24.

At the same time, the price of INJ showed a significant decline, moving from $51 to $35.30. This represents a correction of approximately 30.78%.

INJ Daily Active Addresses.
INJ Daily Active Addresses. Source: Sentiment

This recent growth in daily active addresses is a positive sign for INJ, suggesting a resurgence of user engagement and interest in the network.

After a period of activity and price declines, this resurgence represents evolutionary changes, as increased network engagement can boost demand for INJ, supporting price recovery and boosting overall market sentiment.

INJ Price Prediction: What's Next?

The 4-hour chart of Injective (INJ) shows a confluence of Exponential Moving Averages (EMAs) converging around the current price, indicating a bullish market. In particular, short-term lines below long-term lines often indicate a bearish outlook. The market is quickly decelerating from its past strength.

EMAs are trend-following indicators, averaging values ​​over time while giving greater weight to recent data, which helps identify trend direction and strength.

INJ 4H price chart and EMA lines.
INJ 4H price chart and EMA lines. Source: TradingView

Currently, INJ may go down to $30 during this consolidation, a phase of tight price action with no clear direction. Although EMAs present a not-so-bullish picture, the network's strong metrics, such as the number of active addresses, with 83% of holders breaking even, could slow down any aggressive selling.

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These factors strengthen the consolidation situation. If supported by these fundamental strengths, an improvement is seen, INJ could quickly return to the $44 mark.

Disclaimer

In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be construed as financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions. Please note that our terms and conditions, privacy policies and disclaimers have been updated.

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