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After an extended downturn, Injective (INJ) has discovered a temporary support level that triggered a move back up.
As of 11:15 am EST, it’s trading at $8.17, up almost 1% in the past 24 hours. Trading volume fell 30%.
Injective (INJ)/USD Pair Rebounds on 50 EMA
INJ/USD displays signs of recovery following its extended period in the doldrums. The price has been gradually rising from its support level of $7.8.
INJ/USD Chart
There is a positive rebound occurring at the 50-day exponential moving average, evident from a bullish green candlestick formation.
Despite facing resistance at $10.07, the bears were able to push the price down momentarily. However, the 50-day moving average has proven resilient, propelling the price again. The overall trend for INJ price remains bullish, as seen through the formation of higher lows along the uptrend line, which is confirmed by the Exponential Moving Average (EMA) crossover at $1.79.
Moreover, the relative strength index (RSI) indicates an uptrend rebound at its neutral point, suggesting increased buying pressure that aligns with the rebound at the 50 EMA. The RSI might surge into the overbought region (70) if the bullish sentiment is sustained above the 50 EMA. However, a break below the 50 EMA could prompt the bulls to retreat to the support zone, which coincides with the 200-day EMA.
Considering the analysis, if the bulls maintain the current buying pressure, INJ/USD price will likely surge toward the major resistance at $10.07. Conversely, a candlestick close below the 50 EMA might lead to bearish momentum, driving the price down to the support level of $5.56.
Here is a coin that promises a great alternative for investors who aren’t convinced about Injective’s bullish momentum:
Wall Street Memes: A Dynamic Crypto Opportunity
Wall Street Memes ($WSM) is a new crypto project with a unique proposition, integrating humour and financial prowess.
Capitalizing on the universal appeal of memes, this project offers investors a distinctive user experience, seamlessly bridging the worlds of entertainment and serious investment.
Wall Street Memes has masterfully channeled the ethos of the iconic “Wolf of Wall Street,” transitioning the spirit of stock trading into the digital age.
— Wall Street Memes (@wallstmemes) July 26, 2023
Rather than conforming to traditional financial paradigms, it humorously challenges them, crafting a fresh narrative for modern-day investors. This narrative, imprinted on memes and circulated on social media, crafts a vibrant dialogue around finance, beckoning a new generation of crypto enthusiasts.
So what makes Wall Street Memes a great project for investors? Well, it’s community. Wall Street Memes boasts over 1 million active users across its social media pages, generating 40 million impressions.
This remarkable community engagement has propelled the project to secure an impressive $18.2 million quickly, making it one of the most sought-after presales this year.
$WSM Poised for 100X? Elon Musk Shows Support
Wall Street Memes has not only caught the attention of the masses but has also piqued the interest of industry magnates.
Elon Musk’s engagement with the project on social media channels has fueled speculation and excitement. Remember Dogecoin? One tweet, and boom! To the moon, they said, and so it was.
Literally
— Elon Musk (@elonmusk) March 18, 2023
As more influential figures interact with Wall Street Memes, experts predict that $WSM can easily top 100X once it hits the market.
Wall Street Memes is nearing its target at this stage in its presale journey, having accumulated $18,283,028.72 of the targeted $19,954,489.73. The token value stands at $0.0325, a figure set to hike to $0.0328 with the completion of the current presale phase. As the project advances, the price trajectory will keep on rising.
The next stage will see WSM’s price rise to $0.0328, which will continue rising, especially as it prepares to grace major exchanges. With a potential 100x returns waiting for those savvy enough to get in early, prospective investors are encouraged to act promptly, given the burgeoning excitement and demonstrable potential for significant returns.
You can now buy your $WSM tokens on the Wall Street Memes official website using crypto (BNB, USDT) or a bank card.
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