- The price of INJ jumped by more than 1% in the past hour alone, adding to its positive price performance over the past few days.
- An hourly candle close above $17.380 could give INJ the foundation needed to continue to climb.
- At press time, INJ was worth $17.50 after it was able to set a 24 hour high price of $17.92.
The price of Injective (INJ) jumped more than 1% over just the past hour alone, which added to the altcoin’s positive 24-hour performance. CoinMarketCap indicated that INJ’s price rose by over 7% in the past 24 hours of trading. This meant that the altcoin was trading hands at $17.50 after setting a 24-hour high price of $17.92.
1-hour chart for INJ/USDT (Source: TradingView)
Looking at the 1-hour timeframe, INJ was able to escape a negative price channel that had formed on its hourly chart. Over the past hour, INJ’s price jumped to a high of $17.547 to trade above the major $17.380 resistance level. However, traders quickly forced the altcoin’s price back down to its current level.
Nevertheless, an hourly candle close above $17.380 could give INJ the foundation needed to continue to climb in the following few hours. In this bullish s…
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