TradeCityPro | INJUSDT Altcoins Gaining Momentum Amid BTC.D Drop
2024-11-24

👋  Welcome to the TradeCityPro channel! 
Let's dive into the INJ/USDT chart and explore key trading triggers as altcoins show strong moves due to declining Bitcoin dominance (BTC.D).

🌐  Market Context 

Bitcoin is consolidating below the $99K resistance, with whales showing calmness. This has led to capital rotation into altcoins, as reflected by the drop in BTC.D.

BTC.D is approaching a crucial support at 58.66%. A continued decline, along with Bitcoin's sideways or slight upward movement, could trigger massive altcoin pumps.


📊  INJUSDT Weekly Timeframe 

Trend: INJ is attempting to close above its weekly resistance with significant volume, signaling a potential bullish breakout.

Buy Trigger: A close above this weekly resistance with a stop-loss at $16.20 provides a solid entry for spot positions.

Correction Opportunity: The coin has already corrected to $16.20, and a break above the trendline could lead to further gains.

📈  INJBTC Pair Perspective 
INJ is relatively stronger than most altcoins against Bitcoin, trading at higher levels in its BTC pair.

Trigger: A breakout above 0.0004325 BTC could confirm an upward move, with potential targets at 0.0009526 BTC, provided the overall market remains bullish.


📝 Final Thoughts

Avoid FOMO: Don’t rush into the market; wait for clear triggers and manage risk responsibly.
Altcoin Opportunities: Early in an "alt-party," altcoins often outperform. However, INJ is already trading higher than many altcoins, making it essential to approach with a strategy.

Stay calm, trade wisely, and let's capture the market's best opportunities! 

This analysis reflects our opinions and is not financial advice.

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️