Featured image created with DALL\u00b7E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
In an analysis shared on X, renowned crypto analyst Josh Olszewicz (@CarpeNoctom) forecasts a significant 33% rise in the price of Injective (INJ) based on a classic bullish chart pattern known as the inverted head and shoulders (iH&S). The chart suggests a strong reversal possibility from recent bearish trends, potentially steering the cryptocurrency’s price to new local highs. Injective Price Prepares For Lift-Off The iH&S pattern, prominently featured in Olszewicz’s chart, is a revered formation among technical analysts for predicting bullish reversals following a downward trend. This pattern is identified by three troughs: the middle trough (head) being the deepest and flanked by two shallower troughs (shoulders), which are approximately of similar depth. Related Reading: Injective Market-Shaking News Drives INJ Price Up By 7% \u2013 Details On the chart, the left shoulder forms around mid-April, dipping below $23.50. The head is seen in May, dropping to a low near $21.08. The formation completes with the right shoulder in early June, reaching down around $23.90, mirroring the left shoulder. The neckline, which is a key component in this pattern, is drawn across the peaks that connect the shoulders and the head. On Olszewicz’s chart, this line is positioned at approximately $28.70. A breakout above this neckline is typically interpreted as confirmation of the pattern’s completion and an impending bullish trend. According to the chart, the price of INJ is about to break above this critical threshold. The analyst’s chart also integrates the Ichimoku Cloud, which provides a dynamic look at potential support and resistance areas. Presently, the price of INJ is hovering near the lower edge of a red cloud, indicating an upcoming resistance zone, which traders might watch closely. Related Reading: Injective (INJ) Buy Signal That Led To 700% & 555% Rallies Forms Again Further enriching the analysis are the Fibonacci extension levels drawn from the lowest point of the head to the neckline of the iH&S pattern. These levels project potential price targets if the bullish breakout is confirmed. The 1.618 Fibonacci extension is marked at $34.74, and a more ambitious 2.0 extension reaches $39.09. These targets represent potential resistance levels where traders might take profits, hence they are crucial for understanding possible future price movements. Josh Olszewicz’s reliance on the iH&S pattern combined with other technical indicators such as the Ichimoku Cloud and Fibonacci extensions presents a comprehensive view. This analysis suggests that INJ’s price could escalate towards $34.74 and might even extend to $39.09, marking a 33% increase from the current price. Investors and traders need to monitor INJ’s price movement closely, keeping an eye on trading volumes and market sentiment which could either accelerate or hinder the predicted bullish momentum. At press time, INJ traded at $29.51. Featured image created with DALL\u00b7E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":611911,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[14690,83630,86855,88126,91075,90841,92510],"class_list":["post-611905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-news","tag-inj","tag-inj-price","tag-injective","tag-injective-news","tag-injective-price","tag-injective-price-prediction"],"acf":[],"yoast_head":"\n
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Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/ktsl888.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Injective (INJ) Price Set To Skyrocket 33% On Classic Bullish Signal: Crypto Analyst","url":"http:\/\/ktsl888.com\/news\/injective-inj-price-set-to-skyrocket-33\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/injective-inj-price-set-to-skyrocket-33\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-07-12.32.44-A-wide-format-image-featuring-a-modern-rocket-launching-into-the-sky.-The-background-should-depict-a-clear-blue-sky-with-wisps-of-clouds-emphasizing-.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-07-12.32.44-A-wide-format-image-featuring-a-modern-rocket-launching-into-the-sky.-The-background-should-depict-a-clear-blue-sky-with-wisps-of-clouds-emphasizing-.png?fit=1792%2C1024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto news","inj","inj price","injective","injective news","injective price","injective price prediction"],"dateCreated":"2024-06-07T11:02:44Z","datePublished":"2024-06-07T11:02:44Z","dateModified":"2024-06-07T11:02:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Injective (INJ) Price Set To Skyrocket 33% On Classic Bullish Signal: Crypto Analyst\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/injective-inj-price-set-to-skyrocket-33\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/injective-inj-price-set-to-skyrocket-33\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/DALL\\u00b7E-2024-06-07-12.32.44-A-wide-format-image-featuring-a-modern-rocket-launching-into-the-sky.-The-background-should-depict-a-clear-blue-sky-with-wisps-of-clouds-emphasizing-.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/DALL\\u00b7E-2024-06-07-12.32.44-A-wide-format-image-featuring-a-modern-rocket-launching-into-the-sky.-The-background-should-depict-a-clear-blue-sky-with-wisps-of-clouds-emphasizing-.png?fit=1792%2C1024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto news\",\"inj\",\"inj price\",\"injective\",\"injective news\",\"injective price\",\"injective price prediction\"],\"dateCreated\":\"2024-06-07T11:02:44Z\",\"datePublished\":\"2024-06-07T11:02:44Z\",\"dateModified\":\"2024-06-07T11:02:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-07-12.32.44-A-wide-format-image-featuring-a-modern-rocket-launching-into-the-sky.-The-background-should-depict-a-clear-blue-sky-with-wisps-of-clouds-emphasizing-.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/611905"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=611905"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/611905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/611911"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=611905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=611905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=611905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Injective](\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/GPb3k2IXIAATRC6.jpg?resize=2759%2C1326\")
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