Burger Swap (BURGER) and Injective Protocol (INJ) Technical Analysis: What to Expect?
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Burger Swap (BURGER)
To deter fraudulent projects from listing, the platform has a voting process. The protocol runs on the Binance Smart Chain (BSC), and BURGER is the primary governance token.
Past Performance of BURGER
Since launching on Binance, BURGER prices have been on a downtrend.
However, after July 15 gains, bulls appear to be in control, much to the relief of traders.
From the daily chart, BURGER/USDT prices are trading above the middle BB with decent participation levels.
Often, this is a precursor for gains. BURGER is trading at a 12 percent premium versus the USD as of writing.
Day-Ahead and what to Expect
BURGER/USDT is within a bullish breakout pattern as per events in the daily chart.
Although bears were dominant in the past, this is now changing, especially if there is confirmation of July 15 gains.
From the daily chart, it could be a new age for depressed buyers who may now unwind.
BURGER/USDT Technical Analysis
BURGER prices are firm, adding five percent on the last trading day. Trading volumes are equally decent.
In a bullish breakout pattern, traders may pick out undervaluation opportunities, targeting $7 and $10 in the medium term.
Losses below $3.5 cancel the uptrend.
Injective Protocol (INJ)
The objective of this platform is to make crypto ramps completely decentralized. It uses INJ as the primary currency.
Past Performance of INJ
Overly, INJ/USDT trend is bearish even with gains of this week.
The bullish reversal is labored, even as prices flat-line as per candlestick arrangement in the daily chart.
As of writing, INJ is down three percent, struggling to overcome $8.
Day-Ahead and what to Expect
Bears are in the driving seat.
From the daily chart, INJ/USDT prices are waving around the middle BB and finding liquidation at $8.
Further impeding the uptrend is the long-upper wick of the July 15 bar, suggesting weakness in lower time frames, highlighting the importance of $8 as a critical resistance level.
INJ/USDT Technical Analysis
Prices are in range with identifiable resistance at $8.
A clean-cut close above $8, preferably with high trading volumes, could see INJ soar to $10 in the medium term.
On the flip side, $6.5 and the middle BB is a strong support level. If INJ/USDT prices crumble below this mark, bears could push INJ back to June 2021 lows of $5.