COTI and Injective Protocol (INJ) Technical Analysis: Prices Motoring
Table of contents
COTI
The platform is, from inception, designed to facilitate decentralized payments. Operations are centered on COTI—its internal currency.
Past Performance of COTI
The uptrend is clear. COTI bull bars are banding along the upper BB, an indicator of strength.
After the August 17 superb performance, COTI bulls are buoyant, expecting more gains the days ahead in follow-through of Tuesday's upswing.
Presently, COTI is up three percent, retesting June 2021 highs.
Day-Ahead and What to Expect
From the daily chart price action, COTI buyers could break above $0.25, clearing June 2021 highs.
The result could be the base for even more gains back towards H1 2021 highs, a relief for COTI holders who held through the freeze of Q2 2021.
COTI/USDT Technical Analysis
The upswing of August 17 may be the foundation for another moon sling towards H1 2021 highs.
COTI crypto prices are solid, steady as bars band along the upper BB—a market of high momentum and volatility.
In this case, risk-on traders can wait for a close above $0.25 before committing.
On the other hand, aggressive COTI bulls might load the dips in anticipation of another leg up towards $0.56—March 2021 highs.
Injective Protocol (INJ)
The goal of this platform is to decentralize exchanges. Using the INJ, it has released a decentralized order book and is interoperable with Ethereum.
Past Performance of INJ
The INJ token might be consolidating, losing seven percent, but is in a W-formation.
Overly, The INJ crypto price is bullish reading from the Injective Protocol price prediction in the daily chart.
Nonetheless, trend continuation is highly dependent on participation levels in the days to come.
Day-Ahead and What to Expect
From the daily chart, INJ price prediction points to strength and determined buyers.
In a bullish breakout within a W-formation with immediate support from the middle BB and $8, every low could offer entries for aggressive INJ token buyers targeting $10.
INJ/USDT Technical Analysis
The path of the least resistance is northwards, with INJ/USDT prices inching higher in a W-formation.
The double bottoms of June and July were the bases that may eventually see Injective Protocol token prices rocket to $10.
As a result, every dip could only offer a buying opportunity with targets at $10 if the middle BB holds.
A retracement below $8.5 may call into question the strength of the uptrend.