- A crypto analyst under the pseudonym Woetoe warns the community that INJ may face retracement.
- INJ is priced at $13.41, after facing a fall of 2.49% in one day.
- Previous selling activity of INJ suggests that it may fall even below the 0.382 Fib level.
A crypto analyst under the pseudonym Woetoe recently took to X to share his analysis for INJ. While investors expect a bullish trend on INJ, Woetoe believes a retracement to the support and the 0.382 fib level would “make a lot of sense.” The crypto analyst also stated that he is not “longing here.”
It seems that Woetoe’s analysis may be right as INJ, today, faced a fall of 2.49% in one day. According to CoinmarketCap, INJ is priced at $13.41, at the reported time. Despite the downfall observed in 24 hours, the altcoin still maintains a 19.96% spike in seven days as it trades in the green section of the chart.
The slight downfall could be a response to its overbought trading activity. Traders believe that after an overbought trading activity, the chances for a retracement could gradually increase. INJ could be witnessing the repercussions, which may have been caused by the massive entry of buyers.…
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