INJ - Injective Protocol - Daily Chart Opinions

Here’s a detailed **technical analysis** of the chart you uploaded for **INJ/USDT (Injective Protocol)** on the **1D (Daily) timeframe** using **Heikin Ashi** candles and the **WaveTrend Cross Indicator (WT\_CROSS\_LB)**:

---
📊 **Current Price Zone:**
* **Current Price:** \~\$13.59
* **Sell/Buy Spread:** \$14.18 Sell / \$14.19 Buy
* **Daily Range:** \$12.83 – \$14.06
* **Volume:** Moderate, slightly increasing on green candles — showing growing interest.

---
📈 **Price Structure (Heikin Ashi Candles):**
* Recent series of **strong green candles** — Heikin Ashi confirms trend direction well.
* Steady **bullish momentum** after the reversal from \~\$8.5–9.0 zone in late May.
* Price has formed a **higher low** and now attempting a **higher high**, indicating a potential trend reversal.

---
📉 **WT\_CROSS\_LB (WaveTrend Oscillator):**
* **WaveTrend lines are surging upward**, indicating **strong bullish momentum**.
* Green dot confirmed around mid-June (early entry signal).
* The oscillator is now approaching the **+60 zone** — nearing **overbought territory**, so a short-term pullback could happen soon.
* Previous tops at similar levels have resulted in **minor corrections**, so watch closely for divergence or exhaustion.

---
🧱 **Support & Resistance Levels:**

* **Immediate Support:** \$11.20 – \$12.00 range (recent base)
* **Current Resistance Zone:** Around \$14.50–\$15.00
* **Major Resistance Ahead:** \$17.50 and \$20.00 (psychological round numbers)
* **Macro Resistance:** \~\$26 and \$35 (based on previous highs)

---
🔄 **Trend Overview:**

* **Short-Term:** Bullish (higher lows, strong momentum)
* **Medium-Term:** Reversal in progress — needs a break above \$15 for confirmation.
* **Long-Term:** Still under macro resistance (\~\$20+), but shaping into recovery mode after long downtrend.

---
⚠️ **Key Risks & Notes:**
* WaveTrend is nearing overbought → watch for divergence or volume drop.
* Macro resistance levels remain strong — sentiment shift or BTC weakness could drag it back.

---

✅ Summary:

INJ is showing **early bullish structure**, with momentum indicators supportive of further upside.
It’s approaching resistance near \$14.5–15.0, which, if broken, could open up room toward \$17 and beyond.
A small consolidation/pullback is healthy here.
Volume and broader market sentiment will be critical to watch.

--

Disclosures:
This analysis is for informational purposes only and is not financial advice. It does not constitute a recommendation to buy, sell, or trade any securities, cryptocurrencies, or stocks. Trading involves significant risk, and you should consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.