Injective (INJ) - 60% correction in the months ahead
2024-06-20

On the above weekly chart price has enjoyed a massive 3000% rally. A number of reasons now exist to be bearish. They include:

1) Broken market structure, failed support.
2) Trend reversal.
3) High negative divergence. Almost as strong as the positive divergence the rally began with.
4) The target areas for support include 60% and 80% correction to $8 and $5, respectively.
5) This should take about 1 year to play out.

Is it possible price action continues printing higher lows? Sure.
Is it probable? No.

Ww