Is It Too Late to Buy Injective? INJ Price Climbs 12% as Licensed Telegram Crypto Casino Goes Viral – How to Buy?
The crypto market has entered the day in a state of cautious trading and consolidation after recent volatility. Bitcoin and Ethereum are seeing minor price fluctuations, recovering slightly after major corrections yesterday.
Bitcoin is currently trading around $41,960, down just 0.17% in the last 24 hours. Meanwhile, Ethereum is hovering around $2,229, dipping 0.26% over the same period.
Overall, the market seems to be taking a breather and consolidating recent gains, with investors cautiously optimistic but hesitant to push prices much higher for now. Trading volumes have tapered off from recent highs, and volatility has declined across the board.
Following a similar trend, Injective Protocol’s INJ token has pulled back after reaching a new all-time high of $27.02 today. The INJ price is currently hovering around $26, down 0.83% in the past hour but still up 12,08% in the past 24 hours.
INJ’s price action has been extremely bullish in recent weeks. Over the past 7 days, the token has surged nearly 62%. Zooming out further, INJ has gained 48% in the past 30 days and a massive 246% in the past 60 days. This parabolic uptrend indicates strong momentum and buyer interest.
In the past 24 hours alone, INJ’s trading volume has increased by 40% to $508 million. Intraday volatility has been elevated as well, with INJ price fluctuating nearly 15% in the past day. Traders should prepare for continued volatility ahead.
Looking at the moving averages, INJ is trading above its 20, 50, and 100-day EMAs. The 20-day EMA is at $18.999, the 50-day EMA stands at $16.289, and the 100-day EMA is at $13.556. With the current price well above these levels, the EMAs confirm the ongoing uptrend. The moving averages also provide potential support
Read more on cryptonews.com
