Inj price rose by 3.6% on Tuesday 2 September, while investors encourage the continuous growth of the injective digital assets -treasure box, which will be used to collect the token.
Summary
- Injective price can run the risk of a decrease in the short term.
- It has formed an increasing wedge graphic pattern on the daily graph.
- The injective digital asset treasury with $ 100 million was launched.
Injective (inj) rose to $ 12.90, with more than 4% from the lowest point this week. It remains down with more than 60% from the highest point in November last year.
Inj price increased after the injective digital assets Treasury, which has $ 100 million in assets, investors continued to attract. Some of the top companies are Falconx, Monarq, Canary Capital and Kraken. These companies manage more than $ 30 billion in assets.
The launch comes as more companies collect cryptocurrencies. There are more than 100 public companies with almost 1 million Bitcoin (BTC) in their participations. Companies have also bought top tokens such as Ethereum, Tron and XRP.
Inj price also responded to the potential for a place injective ETF. The SEC has opened the comment period for the injetf, a movement that would lead to more demand for the coin.
The challenge, however, is that injectional player remains in the crypto industry. Defi Lama -Data Show that the network has a total value of just $ 80 million, a decrease of more than $ 158 million last year.
Injectively, only $ 898,000 in decentralized exchange volume in the last 24 hours, while the Stablecoin volume volume was $ 26 million.
Inj price technical analysis
The daily period shows that the Inj price in August reached a peak at $ 16.46 and then fell to a low of $ 12.1. It is slightly under the exponential advanced averages of 50 days and 100 days moved.
Injectief has also formed an increasing wedge pattern, consisting of two rising and converging trend lines that are about to meet each other. The two lines of the MACD have been moved under the zero line, a bearish board.
That is why token is likely to have a bearish breakout, possibly supporting $ 10, a decrease of approximately 21% compared to the current level. The alternative scenario is that the coin rises the top of the channel and again tests at $ 16.46.
