*INJ: Momentum is Building, But Is It Time to Enter?*
*šØ Technical Snapshot*
Injective (INJ) just printed a *bullish MACD crossover* on the *daily chart* ā a classic signal where short-term momentum overtakes long-term trend, indicating possible upside ahead. Historically, this signal has been highly reliable:
ā *80% of the last 30 signals* led to a *+10% move or more*
š The crossover aligns with strong price action support at *20*
ā
*š Signal Context*
- The signal appeared on the *1D chart*, making it significant for swing traders
- Momentum indicators (RSI, Stoch) are *neutral*, which gives the signal room to strengthen
- Trend indicators are turning *bullish*, though the *ADX* remains weak ā keep an eye on this for trend confirmation
ā
*š Chart Behavior*
- Strong bounce off *20 support*, with price hovering around the lower trendline
- Lower trendline has been *touched 5 times* (vs. 2 for upper), showing buyers stepping in at key levels
- However, past bounces *havenāt always reached* the upper trendline ā caution warranted
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*š« Trade Decision: Bench for Now*
While the MACD signal is bullish and backed by decent historical data, the *lack of trend strength* (weak ADX) and mixed chart structure on higher timeframes (4H, 1D) suggests itās *not a high-conviction setup* ā yet.
*Conclusion:*
The setup is promising, but the *risk-reward isnāt ideal* for now. Monitor closely for stronger trend confirmation or volume surge before entering.
#INJ #MACDCrossover #CryptoTradingSignals #InjectiveProtocol #BinanceSquare
