INJ SWING LONG IDEA - ALTCOIN SEASON 2024-2025
2024-11-17

INJ experienced significant gains during the 2023-2024 altseason, making it a smart move to watch this coin for the 2024-2025 altseason.

Technical Analysis:
The price ran the weekly swing liquidity during the August 4th dump. It wicked but couldn’t close below, signaling bullish strength. Following this, the price broke both the daily and weekly bearish structure, turning bullish on two higher timeframes.

Recently, the bearish trendline responsible for the downtrend since spring 2024 was broken with strong momentum and a confirmed close above. This indicates to me that the price aims to move higher.

I expect the price to potentially retrace into the weekly demand zone, hitting the optimal trade entry (OTE) level and possibly retesting the broken trendline.

I will be looking for lower timeframe (LTF) confirmations within the weekly demand zone if the price reaches that level.

SL: $13
TP1: $28
TP2: $41
TP3: $53

