Injective (INJ) Buy Signal That Led To 700% & 555% Rallies Forms Again

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	10,017,774,846	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

10,017,774,846

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00000100	6.25%	0.000017	0.000017	0.000017

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00000100

6.25%

0.000017

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000017	0.000016	0.000016	0.000016	0.00000662 - 0.000048

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000017

0.000016

0.00000662 - 0.000048

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:19:18	875,572.00	0.000017	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:19:18

875,572.00

0.000017

USD

Price x Volume	Volume	Base Symbol	Related Pairs
5,491,403.53	150,216,155,226.13	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

5,491,403.53

150,216,155,226.13

Injective (INJ) Buy Signal That Led To 700% & 555% Rallies Forms Again

28/05/2024 3:00am

NEWSBTC

An analyst has pointed out that Injective is forming a buy signal that previously led to 700% and 555% rallies for the asset’s price. Injective Is Forming A TD Sequential Buy Signal On Its Weekly Chart In a new post on X, analyst Ali Martinez has discussed a Tom Demark (TD) Sequential signal that has formed in the weekly price of Injective recently. The TD Sequential refers to an indicator in technical analysis (TA) generally used for spotting potential points of reversal in any asset’s price. This indicator involves two phases: setup and countdown. In the first of this setup, candles of the same polarity (green/red) are counted up to nine. Once the nine candles are in, the price may have reached a turnaround point. Related Reading: Shiba Inu One Of The Most-Traded Tokens By Whales, Data Shows Naturally, the TD Sequential would suggest a probable bottom in the asset if the candles leading up to the setup’s completion were red. Similarly, the indicator would signal selling if the phase finished with an uptrend. After the setup is done, the countdown phase begins. During this second phase, candles of the same type are again counted, this time till thirteen. After the thirteenth candle of the same polarity, the price may be assumed to have encountered another likely top or bottom. According to Martinez, a TD Sequential signal of the former type has been completed for the Injective’s weekly price. Below is the chart shared by the analyst that reveals this recent signal in cryptocurrency. As the graph shows, Injective has finished a TD Sequential setup with a downtrend, suggesting that the asset may have reached a point of reversal towards the upside. In the chart, the analyst has highlighted what happened the last two times the weekly price of the cryptocurrency encountered this signal. The first of these signals appeared to have preceded a rally of over 700%, while the other resulted in a surge of almost 556%. Thus, given this bullish precedence, it’s possible that the latest TD Sequential buy signal could also lead to another run of sharp bullish momentum for the asset’s price. Related Reading: Analyst Says “Only A Matter Of Time” Before Bitcoin Flies Past ATH However, it should be noted that the TD Sequential hasn’t always been completely reliable for the coin. As is visible in the graph, the indicator flagged a sell signal partway through the second of the rallies above. As such, it remains to be seen how the Injective price develops from here on out and whether the TD Sequential buy signal will have an immediate bullish effect, just like it did the last two times. INJ Price The Injective has been stuck in consolidation over the past month. Its price is currently trading around $26, right in the middle of the range. Featured image from Shutterstock.com, charts from TradingView.com

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